Tax Saving Tips invest in these four schemes before 31 march 2024 to get tax rebate know details here

Income Tax Saving Tips: The financial year 2023-24 is about to end. In such a situation, if you are choosing the old tax regime and are thinking about investment options for income tax saving, then we are telling you about some tax saving schemes. By investing in this, you can save tax along with good returns. The special thing is that despite it being Sunday, banks will remain open on 31st March. In such a situation, if you want, you can avail the benefit of tax saving in this financial year by investing in these schemes till March 31, 2024. Let us know about these schemes.

1. Invest in National Pension System (NPS)

National Pension System is a scheme by investing in which you can prepare a big fund for your retirement. Along with this, you will also get the benefit of tax exemption by investing in NPS. This exemption will be available on investment of Rs 1.50 lakh under Section 80C of Income Tax.

2. Invest in Public Provident Fund (PPF)

PPF i.e. Public Provident Fund is also one of the popular schemes in which by investing you get the benefit of tax saving along with a strong fund in the long term. Under this scheme, you can invest from Rs 500 to Rs 1.50 lakh every year. The lock in period of this scheme is 15 years. By investing in this scheme, you get a rebate of Rs 1.50 lakh under Section 80C of Income Tax.

3. You can get tax exemption through insurance premium

If you have paid the insurance premium till March 31, 2024, then you can claim it for tax exemption for this financial year. Exemption up to Rs 1.50 lakh can be claimed on insurance premium under Section 80C of Income Tax. This exemption can be claimed under the old tax regime.

4. Tax Saving FD

Tax saving FD is a good option for investment. By investing in this scheme, you can claim good returns as well as tax exemption. Generally all banks give the option of 5 years tax saving FD to the customers. Under this scheme you can claim tax exemption of Rs 1.50 lakh.

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