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Tax saving via NPS investment: There are many income tax laws changes that have come into effect from April 1, 2023 for current FY 2023-24. However, NPS investment is one that can help you save tax in both the old and new tax regimes. However, it is important to know the tax rules to save income tax via NPS investment.
Strategic planning and savvy budgeting techniques can empower new parents to manage costs effectively without straining their finances
Similarly, collections from the Monthly Income Scheme rose to nearly Rs 20,000 crore, compared to Rs 5,000 crore for the full fiscal year of 2023-24, stated a senior Finance Ministry official
ICICI Bank tax-saving FD: ICICI Bank offers 7% interest on tax saving fixed deposit for general citizens and 7.50% for senior citizens. The minimum deposit limit for a Tax Saver FD is Rs 10,000 and the maximum is Rs 1,50,000.
If you are short on funds to make an investment in ELSS mutual funds for the current financial year, then this trick can help you save tax. Do note that this trick can work provided you have opted for the old tax regime for the current financial year. Read on how this trick works.