Tax Saving Schemes for F.Y.2018-19 or A.Y.2019-20

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Tax Savings is an effective measure to ensure that people save some of their tax liability in a legal way. There are many investment options which provide deductions to the assessee and some of them are listed below. The tax saving schemes are the one of the part of tax planning. Tax planning is legal and everyone should do it to increase wealth.

5 Year Deposit Scheme 

Tax Saving Scheme 5 Years Time Deposit
Rate of Interest Interest 7.8 p.a Depends on Bank
Investment Limit No Limit
Tax Benefits Deduction u/s 80 C Available
Details Click Here to Know More

5 Year National Saving Certificate VIII Issue

Tax Saving Scheme 5 Year National Saving Certificates VIII Issue
Rate of Interest Compound (Half-Yearly) Interest @8% p.a.
Investment Limit No Limit
Tax Benefits Investment & accrued interest for first 4 years qualify for deduction u/s 80 C. Interest chargeable to tax on accrual basis (No TDS)
Details Click Here to Know More

10 Year National Saving Certificate IX Issue

Tax Saving Scheme 10 Year National Saving Certificates IX Issue
Rate of Interest Compound (Half-Yearly) Interest @8.8% p.a.
Investment Limit No Limit
Tax Benefits Investment & accrued interest for first 9 years qualify for deduction u/s 80 C. Interest chargeable to tax on accrual basis (No TDS)
Details Click Here to Know More

5 Year Post Office Recurring Deposit

Tax Saving Scheme 5-Year Post Office Recurring Deposit
Rate of Interest 7.3% p.a. compounded quarterly but payable on maturity
Investment Limit No Limit
Tax Benefits Interest chargeable to tax (No TDS)
Details Click Here to Know More

15 Year Public Provident Funds

Tax Saving Scheme 15 Years Public Provident Fund
Rate of Interest 8% p.a. every years but payable at the time of maturity
Investment Limit minimum Rs.500 and maximum Rs.1,50,000
Tax Benefits Interest totally exempt u/s 10(11) investment qualify during the year allowed for deduction u/s 80C
Details Click Here to Know More

Post Office Saving Bank Account 

Tax Saving Scheme Post Office Saving Bank Account
Rate of Interest Interest @4% p.a. credited annually
Investment Limit Minimum: Rs.20 and Maximum Rs. 1,00,000 for Individuals, Rs. 2 Lakh for two or more adults jointly in one or more account.
Tax Benefits Deduction up to Rs.10,000 is available under section 80TTA from the A.Y. 2013-14
Details Click Here to Know More

8% (6 Year) Saving Taxable Bonds

Tax Saving Scheme 8% (6 Year) Saving Taxable Bonds
Rate of Interest 8% payable half yearly or compounded with half yearly rests
Investment Limit No maximum limit,
Tax Benefits Interest chargeable to tax (tax to be deducted at source)

5 Year Senior Citizen Saving Scheme, 2004 (Post Office)

Tax Saving Scheme 5 Year Senior Citizen Saving Scheme 2004
Rate of Interest 8.5% per annum payable quarterly
Investment Limit maximum deposit Rs. 15 lakh
Tax Benefits Investments qualifies for deduction u/s 80C
Details Click to Know More

Sukanya Samriddhi Account

Tax Saving Scheme Sukanya Samriddhi Account
Rate of Interest 8.5% p.a. Compounded Yearly
Investment Limit Minimum Rs. 1000, Maximum Rs. 1,50,000
Tax Benefits Interest totally exempt from tax u/s 10(11A). Investment qualifies for deduction u/s 80C
Detail Click Here to Know More

However, it shall be noted that most of the above mentioned tax saving schemes directly fall under the deductions category of section 80C, where the maximum permissible limit is upto  [Rs. 1, 50, 000 (A.Y. 2017-18 & 2018-19)]. Henceforth, the total amount as a collective of all the available schemes would be taken into consideration. Still one can use medical expenses and other similar expenses to avail further deductions u/s 80D.

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6 thoughts on “Tax Saving Schemes for F.Y.2018-19 or A.Y.2019-20

    • mam can u explain me, why deduct tds,some dedeuct tds, some not,,,who is lialility ,,if any company dont deduct tds ,,what effect can u explain plz mam

  1. Kindly let me know whether 10,000 reiceve din SB account as interest and Rs.12,000 under Section 80L cane bd deducted from taxable incoime for all individual alike ,I mean for Male,Women and Senior citized assessees.

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