Plan ahead to save for your future and also to save your tax....here are few schemes which helps in saving tax in India..........
1. Public Provident Fund (PPF)
Public Provident Fund or generally called as PPF is saving scheme for employees in various government, public and private sector organizations for Income Tax Saving in India. The government has set limit for saving ranging from a minimum of Rs. 500 to the maximum of Rs. 70,000. The government pays a rate of interest at 8%. This can be opened in any public sector banks like SBI and others. For employees the company deposits in the PPF.
2. National Savings Certificates (NSC)
National Savings Certificates or NSC is yet another saving scheme for Tax Saving on Income in India. The investment in this scheme starts from a minimum of Rs 100 ar a rate of interest of 8%. A person investing in this scheme can avail Income Tax benefit under the Income Tax Act, 1961 section 88 for the amount invested.
3. Post Office Scheme (POS)
This is one of the best and most used scheme in India for Income tax saving in India. A person can join in this scheme any time in the year and the account can be operated either single or jointly.
4. Kisan Vikas Patra (KVP)
Kisan Vikas Patra or KVP as known is a scheme which is for Income Tax Saving in India where a personís investment gets doubled in 8 years earlier it was 5 years. A person can invest a minimum of Rs 100 and under Income Tax Act, 1961 the person gets tax benefit for the amount invested.
As per the Income Tax Act 1961 any person can claim income tax benefit from the income earned from dividends which from the UTI, shares and mutual funds.
Hope it will be of help.......
There is still a month left so...plan, invest and stay happy...
Good Job....Nice Posting about Income Tax Saving...but..Three importance things that one needs to appear at before finance in any of the mentioned immobile income instruments are taxability of percentage income, oftenest of income, and term of promotion. Equal if the relate range on the Precedential Citizens' Savings Group (SCSS) is 9 per cent per annum, the income is full dutiable. This agency that for someone in the highest tax-bracket, the actual take after-tax present be only 6.22 per cent.
From India, Ahmadabad
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