Small Saving Scheme: The last date for filing tax returns is near. The deadline for investing in Income Tax Section 80C, 80D, 80E has now been extended from 30 June to 31 July. If you also want to invest to get tax exemption, then you can invest till 31 July. If you cannot invest big, then you can invest in some small saving schemes. In these, you get the benefit of tax exemption under Section 80C of Income Tax Act along with higher interest. There are many such options in Section 80C of Income Tax Act, in which you can save tax on an amount of up to Rs 1.5 lakh by investing. Know about these schemes-

Also read: Avoid making these 7 mistakes while filing income tax return: Income Tax Return Tips

Public Provident Fund

If you are looking for a small savings scheme for investment, then Public Provident Fund (PPF) is perfect for you. Currently, 7.1 percent interest is being given on investment in this. You can invest even just 500 rupees in it. Income tax exemption is available on returns, maturity amount and interest income. This account is opened for 15 years which can be extended for 5 years. A maximum of 1.5 lakh rupees can be invested in it.

Senior Citizen Saving Scheme

The interest rate on the deposits in this scheme is 7.4 percent per annum. Investing under this scheme provides tax benefits under Section 80C of the Income Tax Act, 1961. People aged 60 years or more can take advantage of this scheme. VRS takers who are above 55 years but below 60 years can also open this account. Money can be invested in it for 5 years. After maturity, this scheme can be extended for 3 years. You can invest a maximum of Rs 15 lakh under this scheme.

Sukanya Samriddhi Scheme

If you have a daughter, you can open an account in her name before she turns 10 years old. You can open an account for just Rs 250. Currently, it is paying an interest rate of 7.6 percent per annum. A maximum of Rs 1.5 lakh can be deposited in it. By investing in this scheme, you can also avail tax exemption under 80C.

National Savings Certificate

If you want to invest less, you can invest in Post Office National Saving Certificate (NSC). It gives 6.8 percent annual interest. The amount deposited in it is tax exempted under Section 80C of the Income Tax Act. You can invest a minimum of Rs 100 in it. There is no maximum limit for investment.

Equity Linked Savings Schemes

Equity linked savings schemes of mutual funds are also a very good option for tax saving. In this, the investor can get tax benefits of up to Rs 1.50 lakh under 80C.

You can also avail the benefit of tax exemption by investing in these small savings schemes.