Tax Saving Investment Tips: Everyone in India needs to know about such investment schemes where investing can help in saving taxes. There are many options available in India for this which can help you save taxes. Finding out which option is right for you among these investments provides you financial security.
So along with this, it also gives the benefit of tax deduction under Income Tax Section 80C, 80D, and other sections. That is why today we will tell you about some such ways of investment where you can save tax after investing. So let’s know the complete news.
You can save tax by taking health insurance
Health is a very important issue in everyone’s life. When people get sick, they lose a significant amount of their income. That is why now many people are already prepared for this. Now many people get their health insurance done. Comprehensive health insurance policy is very important in today’s time. It is very useful for you in difficult times and saves a lot of money spent on treatment.
So, the benefit of a health insurance policy is that you get tax exemption under Income Tax Section 80D. Along with your health insurance, you can take a balance insurance policy for your family members, including your parents, and claim tax exemption.
You can save tax on guaranteed return plan
There is no certainty about the market. When will the market go up and when will it go down. That is why it is right to invest in a guaranteed return plan. This keeps your financial status strong. In this plan, you get high and safe returns. Along with this, it also provides you tax savings.
If your investor profile is good, then you can get a return of up to 7.5 percent. This scheme comes under the life insurance component, hence you are also given a tax discount of up to Rs 1.5 lakh under section 80C of Income Tax.
You can also invest in these schemes
Along with this, you can also invest in retirement mutual funds. Their long period is not long and the risk is also very low. So you can also take advantage by investing in Public Probability Fund i.e. PF and you can also take advantage of tax savings. So along with this, you can also invest in tax saving fixed deposits.