Tax saving with 5-year fixed deposits with a bank or post office
Return - Currently between 5% and 9% depending on tenure.
Tenure should be up to a maximum of 5 years to avail tax benefits.
Amount invested can be deducted from taxable income.
Tax saving with National Savings Certificate | NSC
Tax saving with National Savings Certificate (NSC)
Return - 8% compounded half-yearly,
Tenure - 6 years,
Minimum investment - Rs 500,
No maximum investment limit,
Amount invested can be deducted from taxable income.
Tax saving with Equity Linked Savings Schemes | ELSS
Tax saving with Equity Linked Savings Schemes (ELSS)
Tenure - 3 years,
No upper limit of investment,
High earning potential,
Provides 10% to 15% returns with a good scheme, over a long term.
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