Invest before the deadline of 31st March, it will help in tax saving

Tax Saving: Only a few days are left for the financial year 2023-24 to end. This time is considered very important from the point of view of tax saving. If you invest in special savings products by March 31, you can save a lot in tax.

term life insurance
You can get tax relief on premium paid on term life insurance under Section 80C of Income Tax. It can be up to a maximum of Rs 1.5 lakh in a financial year. Term life insurance is a type of life insurance. In which you can get bigger coverage at lower premium.

health insurer
You can save a lot of tax with the help of health insurance. Under Income Tax Section 80D, you can save Rs 25,000 on health insurance for yourself and your family and Rs 50,0000 on health insurance for parents.

ULIP
ULIP i.e. Unique Linked Insurance Plan is also an ideal way to save tax. It is a mixture of investment and insurance. Equity, debt and balanced funds all benefit from this. By investing in this, you can get benefits under Section 80C of Income Tax and you can also claim tax savings of up to Rs 1.5 lakh. Let us tell you here that the money received on maturity of ULIP is also tax free.

Guaranteed Return Plan
Guaranteed return plan is also a great tax saving option. In this, investors get interest up to 8.2 percent. Schemes with guaranteed returns include schemes like National Savings Certificate, Sukanya Samriddhi Yojana, Senior Citizen Savings Scheme, Mahila Samman Savings Certificate. In this scheme, the benefit of sections like Section 80C and 10 (10D) of Income Tax is available.