Sqrrl- Save Tax

1. 5 Best Tax-Saving Instruments You Should Never Miss! Do you want to know various instruments that can help you Save Tax? To Save Tax on your Income Tax, many investors use multiple instruments that provide this benefit. These significantly increase the investment portfolio in this country as all individuals want to avail of this advantage. Here In this article, we will mention the best tools to Save Tax and tax saving options, which will reduce your tax outgo. Read on! Equity Linked Savings Scheme (ELSS) One of the best ways to Save Tax is the Equity-linked savings scheme. It is among the popular ways to save on the Income Tax and is considered the best under Section 80C deductions. You can very well earn substantial returns by gaining market advantage from these Income Tax instruments. Public Provident Funds (PPF) Next here is the Public provident fund is one of the simplest ways to Save Tax instruments u/s 80C, sponsored by India's govt. However, PPF comes with a catch; it has a mandatory lock-in period of 15 years. It sometimes becomes dangerous, too, for the investor. Senior Citizen Savings Scheme (SCSS) Let's look towards the Senior Citizens Savings Scheme. It is also called the best tax- saving investments u/s 80C, as it enables you to enjoy SCSS tax deduction of up to Rs. 1.5 Lakh on an investment amount. However, the eligibility criteria for this scheme are more rigid than other instruments. Only people satisfying the following criteria can avail of this investment tool: Tax Saver Fixed Deposit (FD) It is one of the most popular and safest investments to save taxamong risk-averse individuals, as it assures guaranteed returns at a fixed interest rate.

2. Mutual Funds Mutual funds, also referred to as Equity Linked Savings Scheme (ELSS), are great tax-saving instruments under Section 80C of the tax Act, 1961. This section allows you to say benefits from your taxable income if you set your money into specific investments. Conclusion While there are multiple ways you can Save Tax, you should always go for the one where you get dual benefits of tax saving and wealth creation. Remember to plan your taxes, seek the simplest thanks to optimizing your taxes, and utilize the tax exemption limit completely. Visit Sqrrl it is one of the best apps to invest in your funds to Save Tax