This Tax Season Save big.

Tax Season!!! ITR filing!!! Tax planning!!! SAVE BIG on taxes!!!

Everyone is either stressed, confused, or chasing their Accountants or tax planners.

Welcome to the tax season;

Some of us might be shocked that, OMG! this significant amount is deducted as tax from my yearly income.

Everyone reaches the same conclusion, My hard-earned money is going into taxes, and the thought cycle starts?How to save on taxes?

Here are 4 investments you can make to save big on taxes;

1. Sukanya Samriddhi Yojana:?The highest annual investment you may make into this government-backed scheme is Rs 1.5 lakh. You can open an account in your daughter's name as her parent and earn interest of up to 8.5 percent.
2. Tax Saving Fixed Deposit:?These are similar to conventional fixed deposits but have a 5-year minimum lock-in duration. Interest payments are available in the range of 7 to 9 percent.
3. Public Provident Fund (PPF):?These are government-backed investments with a minimum lock-in period of 15 years. You can partially withdraw funds after 7 years and earn an interest of around 8%.
4. Take a Home Loan:?Did you know that getting a loan could help you save on taxes? Payments toward the principal and interest of your loan are free from taxes under Section 80C of the Income Tax Act.

These four methods are not the only ones that can save you taxes; there are various other schemes to save your hard-earned money. We know how it feels to lose money, and our mission is to educate first and then help you save and plan your taxes. If you have liked this?REACT, COMMENT,?and?SHARE, also for all your tax planning queries and services, visit our website .

Taxblock,

Your Digital Neighbour.