In Tax Saving Fixed Deposits (FD) one can claim a tax deduction up to a maximum of Rs 1,50,000/- by investing in them.
SCSS encourages senior citizens to invest as a long term investment which is done under Section 80C, of the Income Tax Act, 1961 up to Rs. 1.5 lakh per annum.
Public Provident Fund (PPF) is one of the most popular savings schemes among investors. Under one Section 80C of Income Tax Act, you can get a tax exemption on investment of 1.5 lakhs in PPF in any one financial year.
Apart from tax saving and retirement advantages NPS enable people to invest smartly and earn higher returns.
Compared to other options of investment, the stock has the longest ability to return returns. But, choosing the right shares is difficult, as well, it is important to buy the right time of the stock and get it at the right time.
The goal of the investment is to put your money in one or more types of investment sources so that your money increases with time.