7 top investment schemes that save you taxes while yielding you decent returns

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Reducing the tax load is a common priority for all taxpayers, as it's natural to seek ways to retain more of your well-earned income. Thankfully, there are several legal and ethical avenues to achieve this goal.

Finding the right equilibrium between favourable returns and tax advantages is a primary consideration for numerous investors. Although exclusively depending on investments for tax savings may not be the most prudent approach, they can indeed serve as a valuable asset in your tax optimization toolkit.

Popular among Indian investors aiming for guaranteed returns and assured income through interest, government-backed schemes such as the Public Provident Fund (PPF), tax-saving fixed deposits, Sukanya Samriddhi Yojana (SSY), Senior Citizen Savings Scheme (SCSS), and National Savings Certificate (NSC) each address distinct needs and provide specific benefits:

In addition to government-sponsored schemes, alternative programs such as the National Pension Scheme (NPS) and equity-linked savings schemes (ELSS) exist. Although these schemes do not assure guaranteed returns, they play a dual role by facilitating wealth accumulation and providing tax-saving benefits.

The PPF stands as a widely favoured investment scheme available through both post offices and numerous banks in India. Its popularity is attributed to a distinctive blend of benefits it provides:

Overall, PPF offers a compelling combination of guaranteed returns, tax benefits, long-term stability, safety, and flexibility. This makes it a valuable tool for individuals seeking to build a secure financial future, particularly for retirement.

The SCSS stands as a distinctive initiative by the Indian government, aiming to offer secure and appealing investment