ITR Filing 2025:

The last date for filing Income Tax Returns (ITR) for 2025 is coming soon. Many people wait until the last moment to file their returns. At that time, they rush to collect documents and log in to the portal, which creates stress. However, some people plan early and save tax smartly. If you missed some tax benefits, you can still take action. Here are five investment options that can help you save tax.

ITR Filing 2025:

1. Equity Linked Savings Scheme (ELSS)

ELSS is a type of mutual fund. Under Section 80C, you can claim a deduction of up to ₹1.5 lakh. It has a lock-in period of 3 years. The returns depend on the stock market. ELSS is a good option for tax saving and long-term wealth creation.

2. Public Provident Fund (PPF)

PPF is a popular and safe investment option. It has a lock-in period of 15 years and offers guaranteed returns at government-decided rates. Interest earned is tax-free. It is best for retirement planning and low-risk investors.

3. National Pension System (NPS)

NPS gives an extra tax benefit under Section 80CCD(1B) of up to ₹50,000 in addition to Section 80C. So, you can save up to ₹2 lakh in total. It is suitable for those who want a long-term retirement plan with investment options in equity, government bonds, and corporate bonds.

4. Tax-Saving Fixed Deposits (FDs)

If you prefer bank deposits, you can choose a 5-year tax-saving FD. You will get a tax benefit under Section 80C. However, the interest earned is taxable. It is a safe choice for people who do not want to take risks.

5. Health Insurance Premiums

Under Section 80D, you can claim up to ₹25,000 for yourself and your family. For parents, you can claim an extra ₹25,000 (₹50,000 if they are senior citizens). This option provides both tax saving and health security.

Plan wisely and choose these investments to reduce tax and build financial security.

Also Read:7th Vs 8th Pay Commission: What’s New for Employees and Pensioners

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