Tax Benefits that come under section 80c
• ELSS
• Tax-saving FD
• NSC
• Home Loan
• Sukanya Samriddhi Yojana
• PPF
• EPF
• Infrastructure bonds
• SCSS
• NPS
• ULIPs
Let’s understand each scheme 🧵⤵️
#StockMarkets #Investment
• ELSS
• Tax-saving FD
• NSC
• Home Loan
• Sukanya Samriddhi Yojana
• PPF
• EPF
• Infrastructure bonds
• SCSS
• NPS
• ULIPs
Let’s understand each scheme 🧵⤵️
#StockMarkets #Investment
• ELSS
Interest rate - 12-15%
Lock-in period - 3 yrs
ELSS is the only kind of Mutual Fund that is covered under the ambit of section 80c
Interest rate - 12-15%
Lock-in period - 3 yrs
ELSS is the only kind of Mutual Fund that is covered under the ambit of section 80c
• Tax-saving FDs
Interest rate - 7-8%
Lock-in period - 5 yrs
This is a special scheme provided by banks & post offices. It is to be noted that, though the contribution towards this scheme is deductible, the returns earned attract tax liability.
Interest rate - 7-8%
Lock-in period - 5 yrs
This is a special scheme provided by banks & post offices. It is to be noted that, though the contribution towards this scheme is deductible, the returns earned attract tax liability.
• National Saving Schemes(NSC)
Interest rate - 6.8%
Lock-in period - 5 yrs
NSCs are introduced by post-offices where you can avail a deduction of Rs 1,50,000 but the interest receivable is not subject to TDS.
Interest rate - 6.8%
Lock-in period - 5 yrs
NSCs are introduced by post-offices where you can avail a deduction of Rs 1,50,000 but the interest receivable is not subject to TDS.
• Home Loan
If u have housing loan, section 80c offers these benefits:
Interest: Whatever interest you pay for the loan, you can claim tax deduction fr up to Rs 2 lakh under section 24.
Also, the EMI paid against loan is tax deductible under sec 80c fr up to Rs 1.5 lakh.
If u have housing loan, section 80c offers these benefits:
Interest: Whatever interest you pay for the loan, you can claim tax deduction fr up to Rs 2 lakh under section 24.
Also, the EMI paid against loan is tax deductible under sec 80c fr up to Rs 1.5 lakh.
• Sukanya Samriddhi Yojana
Interest rate - 8.4%
Lock-in period - till the girl turns 21 yrs of age
There is an exemption for the lock-in period. Partial withdrawal is allowed when the girl turns 18.
Interest rate - 8.4%
Lock-in period - till the girl turns 21 yrs of age
There is an exemption for the lock-in period. Partial withdrawal is allowed when the girl turns 18.
• PPF
Interest rate - 7.9%
Lock-in period - 15 yrs
Available to all Indian citizens either in their own name or on behalf of a minor, contribution to PPF is eligible for deduction under section 80c.
Interest rate - 7.9%
Lock-in period - 15 yrs
Available to all Indian citizens either in their own name or on behalf of a minor, contribution to PPF is eligible for deduction under section 80c.
• EPF
Interest rate - 8.1%
Lock-in period - 5 yrs
Here, the employer’s contribution is not eligible for deduction under section 80c
Interest rate - 8.1%
Lock-in period - 5 yrs
Here, the employer’s contribution is not eligible for deduction under section 80c
• Infrastructure bonds
These long-term government-backed securities also fall under the ambit of this section’s deductions. The only condition to consider is that the exemption can be availed only for investments above Rs.20,000.
These long-term government-backed securities also fall under the ambit of this section’s deductions. The only condition to consider is that the exemption can be availed only for investments above Rs.20,000.
• Senior citizens saving schemes
Interest rate - 7.4%
Lock-in period - 5 yrs
Backed by the government, this senior citizen savings scheme can be availed by a senior citizen with a minimum investment of Rs.1,000.
Interest rate - 7.4%
Lock-in period - 5 yrs
Backed by the government, this senior citizen savings scheme can be availed by a senior citizen with a minimum investment of Rs.1,000.
• National Pension Schemes(NPS)
Returns - 9-10%
Lock-in period - until the age of 60
NPS is a voluntary pension scheme set up by the govt. It helps an investor to save for his retirement pension.
Returns - 9-10%
Lock-in period - until the age of 60
NPS is a voluntary pension scheme set up by the govt. It helps an investor to save for his retirement pension.
• ULIPs
Interest rate - 7-9%
Lock-in period - 5 yrs
ULIP, like LIC plans, is a combination of Investment & Insurance. The premium paid for ULIP attracts tax benefits under section 80c.
Interest rate - 7-9%
Lock-in period - 5 yrs
ULIP, like LIC plans, is a combination of Investment & Insurance. The premium paid for ULIP attracts tax benefits under section 80c.
Hit retweet🔁if you find the thread helpful.
Also, follow us @Finology_Quest for more informative content.
We mostly post on:
• Financial Concepts
• Personal Finance
• Stock/Industry Analysis
Also, follow us @Finology_Quest for more informative content.
We mostly post on:
• Financial Concepts
• Personal Finance
• Stock/Industry Analysis
Loading suggestions...