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General Awareness: Tax Saving Pf Fd And Insurance Tax Relief?

 Rajkotupdates.news : Tax saving pf fd and insurance tax relief 

Are you paying tax on FD and insurance currently?? Then you need to learn about tax saving schemes which are available to you. As per section 80C, all your investments under FD and insurance are exempted from tax deductions.

In this article you will get the complete info about different kinds of tax saving schemes for pf fd and insurance. Here we will discuss about all options available to you which are having some pros and cons. Let’s start.

Rajkotupdates.news : Tax saving pf fd and insurance tax relief

Tax Saving PF FD and Insurance Tax Relief:

July 31 is the last date of Income Tax Return (ITR) filing and  so every earning person should focus on tax saving while filing returns.

While considering the earning persons, first person is the salary person who can do monthly investments for his retirement and children future planning. So how to save tax on his investments here we can find out some tax saving options.

Rajkotupdates.News : Tax Saving Pf Fd And Insurance Tax Relief?

Tax exemptions on different schemes which is under 80C.

1. Tax Exemption on National Pension Scheme (NPS)
2. Tax Exemption on Fixed Deposits (FD)
3. Tax Exemption on Life Insurance Premiums (LIC)
4. Tax Exemption on ELSS Funds  
5. Tax Exemption on Employee Provident fund (EPF)
6. Tax Exemption on Public Provident Fund (PPF) 

1. Tax Exemption on National Pension Scheme (NPS)

National Pension Scheme (NPS) is one of the best retirement plan and tax saving investment plan. You can get the tax exemption upto 1.5 lakh with this plan under section 80C.

2.Tax Exemption on Fixed Deposits (FD)

All salaried persons can avail tax saving with this Fixed Deposits of their investments for the lock in period of 5 years. Upto 1.5 Lakh can get Tax exemption under section 80C through FD investments.

3.Tax Exemption on LIC Premium (Life Insurance)

Salaried persons can avail tax exemption through paying LIC premium monthly. Person who is having hic LIC and it will gives the security for life and his family. At the same time  he can get Tax exemption upto 1.5 Lakh  under section 80C through LIC premium.

4.Tax Exemption on ELSS Funds

Equity Linked Savings Scheme Funds are called mutual funds. These funds are very safe to invest and will get tax exemption. These funds will give more returns than bank fixed deposits in long term. 

5.Tax Exemption on EPF

Employee's Provident Fund Scheme especially for salaried persons and they can easily invest. Whatever interest is gained on EPF account is tax free upto 2.5 Lakhs under section 80C. So it's a best option for tax saving investment.

6.Tax Exemption on PPF

Public Provident Fund Scheme is one of the best tax saving option why because of it's beautiful tax saving benefits. Investment in this scheme you will get tax free on maturity amount and interest amount under section 80C. 

Latest Rajkotupdates.News : Tax Saving Pf Fd And Insurance Tax Relief?

The latest Rajkotupdates.news on Tax saving PF FD and Insurance Tax Relief  is never miss the ITR filing and should complete it before July 31. Avoid last minute rush and file before July 31. To get the tax exemptions on your investments , select the best options which are explained above fit for you.