How to Save Income Tax in 2022 – Top 9 Tax Saving Investments
Best Tax saving Investment will not only help you save tax, but also helps in creating wealth.
Choosing right investment option is one of the challenge in front of everyone where all investment comparisons are essential to know. We need to make sure money security with Maximize Returns. Also few more factors to be taken care like locking period, my own risk appetite, my future goals to achieve, funds available at the time of maturity etc.
Tax Saving plus wealth creation is very crucial decision and here are
Multiple Tax Saving Options –
| Instrument | Returns (Per Annum) |
Lock-in Period | Risk Profile |
| Equity Linked Savings Scheme (ELSS) | Market Linked | 3 years | Market Linked Risk |
| National Savings Certificate (NSC) * | 6.80% | 5 years | Low Risk |
| Public Provident Fund (PPF) * | 7.10% | 15 years | Low Risk |
| Sukanya Samriddhi Yojana (SSY) * | 7.60% | 21 years | Low Risk |
| National Pension Scheme (NPS) | Market Linked | Till retirement | Market Linked Risk |
| Unit Linked Insurance Plan (ULIP) | Market Linked | 5 years | Market Linked Risk |
| Tax Saving Bank Deposits * | 6.00% to 7.00% | 5 years | Low Risk |
| Life insurance Plans | Vary from plan to plan | Varry from plan to plan | Low Risk |
| Health Insurance | NA | NA | NA |
* Returns are subject to Change from time to time
There are few more factors where Expert Advice is required –
- Capital Gain Taxes (Equity/Real Estate)
- How much amount should i invest to get maximum tax benefits?
- On time Income Tax Filing to avoid penalty
- Income Tax proof submission to employer
- Major Financial Decision like to buy home or not to save more tax etc
We will help you better on Tax Saving options.
Disclaimer: Mutual fund investments are subject to market risks. Please read the scheme information and other related documents before investing.
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