Important alert on tax saving under section 80C

Investments Club
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:alert: Important alert on Tax Saving! :alert:

Hey Team,

This year, March 29, 30, and 31 are holidays :calendar:, so the deadline to invest in tax-saving funds is March 28, 2024, till 2:00 PM. That’s right, you’ve got only TEN days left! If you invest after the deadline, your investments will be considered for tax savings in the next financial year. [Note: You got 10 days only on Jupiter, on other apps you might get 7-8 days].

If you’ve opted for the old tax regime & are earning over 5 lakh, you’ve a chance to save big on taxes :money_flying:. Invest up to Rs 1,50,000 in tax-saving mutual funds and slash your taxes by up to Rs 46,800 under section 80C of the Income Tax Act.

For the actual savings, enter the correct details on the Tax Saving Widget on Jupiter.

You can download your tax saving statement from here.

Don’t let procrastination rob you of substantial savings. Invest wisely, save smartly! :moneybag:

#TaxSaving #InvestSmart #ActNow

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Thanks for the timely alert, Jitender!

Just to add—Section 80C offers multiple options beyond ELSS (Equity Linked Saving Schemes) too, like:

  • PPF (Public Provident Fund)
  • EPF (Employee Provident Fund)
  • NSC (National Savings Certificate)
  • 5-Year Tax Saving Fixed Deposits
  • Life Insurance Premiums
  • Tuition fees for children

But if you’re looking for higher returns and market exposure, ELSS is a solid choice with the shortest lock-in (3 years). Great reminder for those under the old tax regime—you can save up to ₹46,800 if you’re in the 30% slab.

Make sure to invest timely each year!