Post Office Schemes / These great post office schemes will give huge returns along with tax benefits

Only a few days are left for March to end, and this is the last chance for income tax planning. You can save tax by investing before March 31. PPF, Sukanya Samriddhi Yojana, Post Office Time Deposit and Senior Citizens Savings Scheme are the best options.

Post Office Schemes: The month of March is now going to end in 3-4 days. In such a situation, you have only a few days left for income tax planning. You will not get this opportunity after March 31 because the new financial year is going to start from April 1. Therefore, today we will tell you about such schemes which not only give great returns but can also help you save tax.

1. Public Provident Fund (PPF)

Public Provident Fund (PPF) is a popular scheme for investment. This scheme matures after 15 years and you get interest at the rate of 7.1 percent. In this scheme, you can deposit a minimum of Rs 500 and a maximum of Rs 1.5 lakh in a financial year.

Tax Benefits:

This scheme comes under the EEE (Exempt-Exempt-Exempt) category.

It offers tax exemption on investment, maturity amount and interest earned.

2. Sukanya Samriddhi Yojana (SSY)

If your daughter is less than 10 years old, you can invest in Sukanya Samriddhi Yojana in her name. This scheme has been created to secure the future of daughters and it gives up to 8.2 percent interest. In this, you can invest a minimum of Rs 250 and a maximum of Rs 1.5 lakh annually.

Tax Benefit:

In this scheme, tax exemption is available on investment, interest earned and maturity amount.

Under 80C, a deduction of up to Rs 1.5 lakh can be availed.

3. Post Office Time Deposit (Post Office TD)

Post Office Time Deposit is also known as Post Office FD. It is a safe investment option, especially for those who want to save tax as well as guaranteed returns.

Tax Benefit:

5-year FD gives interest up to 7.5 percent.

A deduction of up to Rs 1.5 lakh can be claimed under Section 80C on FDs with a tenure of 5 years.

4. Senior Citizens Savings Scheme (SCSS)

This scheme is specially designed for senior citizens. Investment can be made in it for 5 years and it gives interest up to 8.2 percent.

Tax Benefits:

The minimum investment in this scheme can be Rs 1,000 and the maximum can be up to Rs 30 lakh.
Tax exemption of up to Rs 1.5 lakh is available under 80C.