This is the last week for you to invest in tax-saving instruments, so buckle up and get to it before the 31 March deadline. You could choose from the popular options, such as tax-saving fixed deposits, the Public Provident Fund, National Savings Certificate, Life insurance schemes and equity-linked savings schemes.(ELSS)
What do these plans offer?
Currently, there are only three dedicated pension schemes available in the mutual fund industry. Two of these, UTI Retirement Benefit Pension Fund and Templeton India Pension Plan, have existed since the 1990s and offer the advantage of tax savings under Section 80CCC.
Tata Retirement Savings Fund, was launched a couple of years ago, but is not a tax-saving instrument as its features are different from the above two.