Best Tax Saving Methods – Know & Save
In today's time, every person pays a large part of his income as tax. But do you know that through proper planning you can reduce your tax and save more? The government has made many such provisions, by using which properly you can get tax exemption. In this blog, we will tell you the best tax saving methods , so that you can invest your hard-earned money in the right place. 1. Tax savings under section 80C Under Section 80C of the Income Tax Act , you can get a tax exemption of up to ₹ 1.5 lakh . For this, you have to pay attention to certain investments and expenses, such as: Public Provident Fund (PPF) – The best option for safe and tax-free returns. Equity Linked Savings Scheme (ELSS) – This mutual fund option offers tax savings and good returns in the shortest possible time with a lock-in period of 3 years. National Savings Certificate (NSC) – An excellent means of safe investment. Life Insurance Premium – Your term insurance or other insurance plan can also help you sav...