WHAT ARE THE INVESTMENT OPTIONS TO INVEST IN BEFORE MARCH 31
Published By MintGenie Team | 29 Mar, 2024
As the deadline for claiming income tax exemption approaches on March 31, taxpayers are hurrying to invest in tax-saving instruments before the end of the financial year.
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Here are some investment options one can explore:
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Tax Saving Fixed Deposits
These FD schemes have a five-year tenure and offer tax exemption under section 80C, allowing investors to claim income tax benefits. Opening a tax-saving FD is convenient through net banking.
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National Pension System
Similar to tax-saving FDs, investing in NPS enables taxpayers to claim exemptions under section 80C. It's advisable to invest in NPS on the last day, provided one holds a Tier-1 account and a PRAN.
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Public Provident Fund
PPF investments can be made swiftly, with instant acknowledgement upon investment. The online-enabled platform makes it easy to invest in PPF at any time.
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Insurance Premiums
Paying insurance premiums by March 31 allows taxpayers to claim tax exemptions for the current financial year.