After spending several years in the doghouse, this popular tax-saving instrument is back in the limelight. While banks have cut interest rates on tax saving FDs, small savings schemes (including NSCs) have been spared. At 8%, the five-year NSCs are offering close to 75-100 basis points more than what fixed deposits give.
Also, unlike PPF and SSY, the interest rate of the NSC does not change if rates are cut. What's more, the interest earned on the NSC is also eligible for deduction under Section 80C in the following years.
The tax benefit on the interest effectively makes it tax free for investors who may not have hit the annual ceiling of `1.5 lakh under Section 80C
Top 10 Tax Saver Mutual Funds for 2017 - 2018
Best 10 ELSS Mutual Funds to invest in India for 2017
1. DSP BlackRock Tax Saver Fund
2. Invesco India Tax Plan
3. Tata India Tax Savings Fund
4. ICICI Prudential Long Term Equity Fund
5. Birla Sun Life Tax Relief 96
6. Franklin India TaxShield
7. Reliance Tax Saver (ELSS) Fund
8. BNP Paribas Long Term Equity Fund
9. Axis Tax Saver Fund
10. Birla Sun Life Tax Plan
Invest in Best Performing 2017 Tax Saver Mutual Funds Online
Invest Best Tax Saver Mutual Funds Online
Download Top Tax Saver Mutual Funds Application Forms
For further information contact SaveTaxGetRich on 94 8300 8300
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This post first appeared on Prajna Capital - An Investment Guide, please read the originial post: here
