These schemes of post office can save up to 1.5 lakh rupees under old tax system

Post Office Schemes: Even though there are many days left for the end of the current poison year (2024-25), it is necessary to plan a concrete investment and tax saving before that. If you have chosen the old tax system, then it is necessary to invest by 31 March 2025 to save tax. Under Section 80C of the Income Tax Act, 1961, taxpayers can claim tax exemption on investment of up to 1.5 lakhs.

Post Office Small Savings Scheme

There are many post office small savings schemes supported by the Government of India, on which investment gives the benefit of tax exemption. Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), National Savings Certificate (NSC), Senior Citizen Savings Scheme (SCSS) and fixed deposits are among them. These are safe investment options, on which returns are also good and there are tax benefits.

Public Provident Fund (PPF)

If you talk about Post Office Public Provident Fund (PPF), then every year you can deposit at least Rs 500 to a maximum of Rs 1.5 lakh. In this, interest is available at the rate of 7.1 percent on the deposit amount. On the investment made in PPF, you can claim tax exemption under section 80C. In this, both the amount of interest and the maturity amount are tax free.

Sukanya Samriddhi Yojana (SSY)

Similarly, to education of daughters and to strengthen them financially, the Government of India started the Sukanya Samriddhi Yojana (SSY), on which 8.2 % interest is available. In this too, 1.5 lakhs per annum under Section 80C. Till you can claim tax exemption. The National Savings Certificate (NSC) is also a good option for exemption on tax under the old tax system. The interest rate in this is 7.7 percent, which is paid after 5 years at the time of maturity. In this, investors get the benefit of compound interest growth.

Senior civil savings scheme (scss)

Senior Citizen Savings Scheme (SCSS) is for people above 60 years of age. It has interest up to 8.2 percent. In this scheme, a maximum of 30 lakh rupees can be invested. Both NSC and SCSS are integral parts of diverse tax saving portfolio.
The 5 -year scheme of the post office also has many benefits. Post Office Time Deposit is gradually becoming prevalent among people. It has 7.5 percent interest. Under Section 80C, there is also a tax exemption on investment up to Rs 1.5 lakh.

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