PPF, SSY, NSC and SCSS will provide double benefits, tax savings and higher returns

Income Tax Saving Scheme: The government continues to run various post office schemes to promote long-term savings. Apart from this, these schemes help you in saving tax (Income Tax Saving Scheme).

Today we will tell you about 5 such post office schemes which will help you in saving tax along with increasing money.

PPF: After the recent increase in the interest rate on Public Provident Fund, it is getting a return of 7.1 per cent. Its maturity is 15 years. This scheme comes under the category of EEE (Exempt, Exempt, Exempt). That is, there will be no tax on the amount received after its investment, interest and maturity. You can invest up to Rs 1.5 lakh in it.

SSY: This is also an EEE category scheme in which you get 7.6 percent interest. In this, you can invest a maximum of Rs 1.5 lakh annually.

Post Office Deposit: Like any bank FD, with its help you can also take advantage of tax deduction. There is no upper limit of investment in this, but you will get tax exemption only on investment up to Rs 1.5 lakh. It gets 7 percent interest.

NSC: You get 7% interest in National Savings Certificate. You can invest as much as you want. You will get tax exemption on investment up to Rs 1.50 lakh. In this you have to invest at least 100 rupees.

SCSS: You get 8% interest in Senior Citizen Savings Scheme. However, only people of 60 years or more can invest in it. There is no tax on annual investment up to Rs 1.5 lakh.