INCOME TAX EXEMPTION

WHAT ARE THE INVESTMENT OPTIONS TO INVEST IN BEFORE MARCH 31

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.

Here are some investment options one can explore:

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.

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.

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.

Insurance Premiums

Paying insurance premiums by March 31 allows taxpayers to claim tax exemptions for the current financial year.