10 best way to save income tax

10 best way to save income tax

NPS : 5 star

Past 5-year return : 8.16%; Lock-in : Till retirement

ELSS : 5 star

Past 5-year return : 18.24%; Lock-in : 3 years

Ulips : 4 star

Past 5-year return : 8.15%; Lock-in : 5 years

Senior Citizens' Savings Scheme : 4 stars

Jan-Mar 2024 return : 8.2%; Lock-in : 5 years

Sukanya Samriddhi Yojana : 4 stars

Jan-Mar 2024 return : 8.2%; Lock-in : Till child is 18

Retirement mutual funds : 3 stars

Past 5-year return : 7-9%; Lock-in : 5 years

PPF : 3 stars

Jan-Mar 2024 return : 7.1%; Lock-in : 15 years from inception

Pension plans :  3 stars

Past 5-year return : 7-14%; Lock-in : Till retirement

Life insurance policies : 1 stars

Return : 5-6%;  Lock-in : Minimum 5 years

NSCs, tax-saving FDs : 2 stars

Return : 7-8%;  Lock-in : 5 years