Tax Saving Tips 2023: The biggest question, how to save income tax, understand ABCD of saving tax before budget.

Tax Saving Tips 2023: People whose salary is taxable also have to file Income Tax Return! Income tax file (ITR file) can be done according to different slabs. However, people whose salary is taxable!

They also take many measures to save Income Tax Return! In such a situation, some things should also be kept in mind to save tax on income. So that income tax can be saved properly (Tax Saving) and its advantage can also be taken advantage of!

Tax Saving:

Actually, there are many investment options available in the country to save Income Tax Return! Which can also increase your capital! And can help reduce your tax burden! For this, taxpayers should first of all keep in mind the purpose of their investment and know whether their investment goal is only Tax Saving! Or they also want to earn good returns from that investment.

tax saving scheme

Let us tell you that at present many Tax Saving Plans are available. But the returns are usually less! A prime example of this is bank FD! This is a safe investment option! But their returns are usually not high! However, after increasing the repo rate through RBI, banks have also increased the returns on FDs. At the same time, tax (Income Tax Return) has to be paid even on the interest received after a limit in tax saving FD!

Investment

Apart from this, if your goal was done along with tax saving! Get a good return on investment! So you should invest in other schemes because in these you can get more returns than FD! Sukanya Samriddhi Yojana, NPS, ULIP, PPF, ELSS and NSC are some very attractive investment options! Along with getting good returns from here, you can also save Income Tax Return!

National Pension Scheme: Tax Saving Tips 2023

Whereas ELSS matures in just three years! There is no lock-in period for very long periods! However, its returns are not constant! At the same time, keeping in mind the returns and pension fund for Tax Benefits! National Pension Scheme i.e. NPS is also a better option! You should continue investing in it when you retire! This includes tax-free investments and rewards! With this you can earn ITR (Income Tax Return) profit from 9% to 12%!