"Top Tax-Saving Investments Under ₹1.5 Lakh!"

The article outlines various tax-saving investment options in India, including PPF, EPF, NPS, ELSS, and more, highlighting their eligibility, tax benefits under Sections 80C and 80D, and specific features like lock-in periods and returns. These options cater to diverse financial goals, from retirement planning to ensuring family security and addressing medical needs.


Investment Option Eligibility/Limit Description
Public Provident Fund (PPF) Up to ₹1.5 lakh per financial year
PPF is a government-backed savings scheme with tax benefits under Section 80C. It offers a risk-free interest rate and has a lock-in period of 15 years.
Employee Provident Fund (EPF) 12% of basic salary and dearness allowance
EPF is a mandatory retirement savings scheme for salaried employees. Contributions made by employees and employers are eligible for tax exemption under Section 80C.
National Pension System (NPS) Additional ₹50,000 under Section 80CCD(1B)
NPS is a pension scheme regulated by the government to provide retirement benefits. Contributions are tax-deductible under Section 80C and 80CCD(1B).
Tax-saving Fixed Deposits Up to ₹1.5 lakh under Section 80C
Tax-saving fixed deposits offered by banks have a lock-in period of 5 years and provide assured returns. The investment amount is eligible for tax deductions.
Equity Linked Savings Scheme (ELSS) Up to ₹1.5 lakh under Section 80C
ELSS are mutual funds providing tax benefits under Section 80C. They have a lock-in period of 3 years and offer higher returns with market-linked risks.
Life Insurance Premiums Up to ₹1.5 lakh under Section 80C
Premiums paid for life insurance policies are eligible for tax deductions. It provides financial security to your family in case of unforeseen circumstances.
Health Insurance Premiums Up to ₹25,000 under Section 80D (₹50,000 for senior citizens)
Health insurance premiums offer tax benefits under Section 80D and protect against medical emergencies. Additional benefits are available for preventive health check-ups.
Home Loan Principal Repayment Up to ₹1.5 lakh under Section 80C
The principal repayment of a home loan is eligible for tax deduction under Section 80C. Interest payments can also be claimed separately under Section 24(b).
Sukanya Samriddhi Yojana (SSY) Up to ₹1.5 lakh under Section 80C
SSY is a government-backed scheme for the girl child. Contributions are tax-deductible under Section 80C and offer high-interest rates with tax-free maturity benefits.


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