Tax Saving PF FD | Financial Planning | Tax Saving System:- Today we are telling you how you can save thousands of rupees in the form of tax. Under the government schemes run by the government, complete information related to this will be shared with all of you. If you also want to save on tax, then here are five government schemes implemented by the government.
While people are doing tax saving schemes worth lakhs of rupees, you can also take advantage of these schemes to make tax saving schemes up to thousands or even lakhs of rupees. Here is the information about tax saving and not tax evasion, you have to deposit your tax amount.
If you are facing any confusion before any kind of tax saving, you can consult a chartered account or lawyer for yourself. Or you can get information on taxi schemes run by the government that requires you to file income tax returns, GST, etc.
Presently below is one of the easy methods of information, apart from this, you can also file ITR by visiting the nearest Common Service Center for information on how to file ITR yourself on this site.
As the financial year is about to end, people are trying different tactics like tax saving PF FD and insurance tax relief. Here you can also save a lot of tax by contributing under government schemes run by the government, because if you want to do good financial planning in the future, then you will also need good financial planning apart from Public Provident Fund. description. Information related to PPF will be shared with you.
Tax Saving PF FD & Insurance Tax Relief – Overview
| Scheme | PPF Tax Saving Scheme, NPS Tax Saving Scheme, Sukanya Samriddhi Yojana Tax Saving Scheme, Senior Citizen Tax Saving Scheme, Life Insurance Tax Saving Scheme, Tax Saving FD, Equity Linked Saving Scheme, |
| Name of the Post | A tax saving of lakhs of rupees can be done like this, know complete information? |
| Type of Post | Rajkot update news Tax Saving Scheme |
Public Provident Fund (PPF)
Public Provident Fund (PPF): One of the most popular government schemes to save income tax is considered to be the PPF scheme, in which you can invest up to 1.5 lakh rupees by depositing money through the Public Provident Fund PPF and can also earn 7.10 percent annual interest under it. The government also gives bumper deductions in income tax under section 80C. So if you want to do under government schemes then you can also do a tax saving scheme by opening a PPF account.
National Pension Scheme (NPS)
National Pension Scheme (NPS): You can also get an income tax exemption of up to ₹ 200000 through the National Pension System (NPS) run by the Government of India, where you can get a special half of ₹ 50000 in addition to one and a half lakh rupees. ,
If you also need Income Tax Saving Scheme 2022, then you can easily get an income tax deduction by opening an account of ₹ 1000 per month through NPS, in which thousands of people get the benefit of income tax by eating food daily.
Sukanya Samridhi Yojna (SSY)
Sukanya Samridhi Yojna (SSY): Sukanya Samriddhi Yojana (SSY) is considered to be the most important scheme among the schemes run by the government, under this scheme you can also save in the name of your daughters. Tax can also be saved by opening an account under Samridhi Yojana. This scheme was launched by the Modi government in which deposits up to Rs 1.5 lakh can avail the income tax exemption.
Senior Citizen Savings Scheme (SCSS)
Senior Citizen Savings Scheme (SCSS): Senior Citizens Savings Scheme allows you to invest up to 1.5 lakhs in the name of your parents or Dinesh Citizens family member. You can earn interest on your savings account at the rate of 7.4% per annum. Apart from the above, there is also an income tax exemption of 80C on the total amount deposited in the account.
Exemption From Taxes For EPF:
Exemption From Taxes For EPF: Employers Provident Fund (EPF) is one of the easiest tax-saving options for salaried individuals. Under this, an exemption under 80C is also available. EPF is managed by the Central Board of Trustees. PF interest per annum is Rs. 2.5 lakh tax-free.
Exemption From Taxes On ELSS:
Exemption From Taxes On ELSS: When you invest in Equity Linked Savings Schemes (ELSS) of mutual funds, you get the benefit of tax exemption under section 80C. These schemes are tax-saving plans with better returns. This is the reason why ELSS is a better tax-saving plan for salaried individuals.
FDs With Tax-Saving Features Are Exempt From Taxes:
FDs With Tax-Saving Features Are Exempt From Taxes: Tax-Saving Fixed Deposit is another tax-saving option for salaried income earners. You will pay Rs. This is one of the tax-saving FDs in which one can invest up to 1.5 lakhs. Tax-saving FDs have a lock-in period of 5 years. It is a safe tax-saving option for the salaried class. Know that tax-saving FD returns are taxed.
Fixed Deposits With Tax Savings:
Fixed Deposits With Tax Savings: By investing in a tax saving FD with a lock-in period of 5 years, just like a normal FD, you can earn up to Rs. A 1.5 lakh tax exemption can be available. Bank FD interest rates generally range from 5.5% to 7.75%, so one can invest in tax-saving FDs i.e. the interest earned on such investments is taxable.
FAQ:
1) Tax Saving PF FD And Insurance Tax Relief?
- The government has started many schemes to save tax for the investors.
2) How to save tax from government schemes?
- The government is running many schemes for tax saving, in which you can easily save lakhs of rupees.
3) How to save tax with Fixed Deposit?
- You can get tax savings or income tax exemption up to Rs 1.5 lakh by opening a fixed deposit account in any bank.
4) How to save tax in the name of daughters?
- If you also want to save tax in the name of your girl child, then under Sukanya Samriddhi Yojana (SSY) income tax exemption can be given in the amount of 1.5 lakh rupees.
5) How to get income tax exemption in the name of parents?
- Under the Senior Citizen Pension Scheme, you can get income tax exemption of lakhs of rupees.