What are some legal ways of saving Income Tax?
5 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 12 March 2021
Invest in 80c securities or in specified bonds elected by government,
Prachi Bansal
(3134 Points)
Replied 12 March 2021
I think that certain investment options also give you a way to save tax legally. Investments like ELSS and Unit linked Insurance Plans( ULIPs) help you save taxes
Spurto Consultancy Services
(Consultant)
(1891 Points)
Replied 12 March 2021
Invest under:
- NSC
- Tax saving FDs more than 5 years,
- Post Office deposits
- LIC policies - you can also invest into ULIP
- ELSS schemes of mutual funds
Prachi Bansal
(3134 Points)
Replied 14 March 2021
| Originally posted by : Spurto Consultancy Services | ||
 |
Invest under: - NSC - Tax saving FDs more than 5 years, - Post Office deposits - LIC policies - you can also invest into ULIP - ELSS schemes of mutual funds |
 |
Isn't post office deposits a very outdated concept? And can taxes still be saved on that?
Could you please elaborate more of what NSC is? What would it mean to invest in NSC?
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