Want To Invest And Save Tax Too? Invest Money in These Schemes!

If you are employed then you should start investing from the very first day itself. If your salary comes under the income tax slab and you are taxed, then you can invest in such schemes, where tax saving scheme is available from the government. At present, there are many such schemes in the country, where you can save tax by investing. Today here you will be told about three such tax saving schemes, where by investing you can save your income tax and also prepare a good corpus for the future.

Public Provident Fund (PPF) 

PPF is a great option to save tax and invest in a safe place. Under this scheme, any investor can deposit a minimum of Rs 500 and a maximum of Rs 1.5 lakh in a year. The interest rate on PPF is 7.1 per cent per annum. The special thing about this scheme is that the investment money, interest received on investment money and maturity amount are all tax free.

Fixed Deposit (FD)

Apart from PPF, you can invest in FD. You also get tax exemption by investing here. However, the point to note here is that the lock-in period in this scheme is 5 years. That is, you cannot withdraw money before 5 years. At the same time, the interest rates available on FDs are always changing. 

Sukanya Samriddhi Yojana (SSY)

Under this scheme, the investor gets an interest of 7.6 percent. Under this scheme, you can deposit Rs 250 to 1.5 lakh annually in your daughter’s account. Here money is deposited for 14 years. When the daughter turns 21, the investor gets the money back with full interest. The daughter’s age should be less than 10 years to invest here.