11 Tax Saving Avenues To Help You Become Your Own Tax Planner

Public Provident Fund (PPF)

Maximum annual limit of Rs 1.5 lakh. 15 years of lock-in period.

Employees Provident Fund (EPF)

No maximum time period. Maximum annual limit is Rs 1.5 lakh.

National Pension Scheme (NPS)

Minimum Rs 6,000. No maximum limit. Maximum age 60 years.

Equity Linked Saving Scheme (ELSS)

Minimum Rs 500. No maximum limit. Time: 3 years.

Senior Citizens Savings Scheme (SCSS)

Minimum Rs 1000 to Rs 15 lakh. Time: 5 years.

Unit Linked Insurance Plans (ULIPs)

Minimum Rs 1000. Time-5 years.

Sukanya Samridhhi Yojana (SSY)

Minimum Rs 150. Maximum Rs 1.5 lakh. Can be started after girl child passes 10th or get 18-year-old.

Bank Fixed Deposit

No maximum limit. Time: 1 year to 10 year.

National Savings Certificate (NSC)

Minimum Rs 100. No maximum limit. Time: 5 years.

Tax Savers Fixed Deposit

Maximum Rs 1.5 lakh. Time: 5 years.

Life Insurance

Minimum Rs 5,000. No maximum limit. Time: 5 years to 15 years generally.