23rd July 2024  Pune, Maharashtra, India  Bajaj Markets, a leading digital financial marketplace, provides access to a variety of tax-saving investments. The new financial year (FY) 2024-25 presents an opportunity to optimize taxes and achieve long-term financial goals.

Tax Saving Opportunities

The following financial instruments are available on the digital marketplace. Individuals may choose to invest in these to maximize their tax savings.

Tax Saver Fixed Deposits (FDs)

• Bajaj Markets has partnered with reputable banks to offer tax-saving FDs.
• These FDs allow deductions of up to Rs. 1.5 lakhs under Section 80C of the Income Tax Act, 1961.
• These FDs have a locking of 5 years.
• Competitive interest rates ensure good returns alongside tax benefits.

Equity Linked Saving Schemes (ELSS)

• Invest in a diversified portfolio of stocks through ELSS mutual funds.
• ELSS offers deduction under Section 80C (up to Rs. 1.5 lakhs).
• ELSS has locking of only 3 years.
• Potential for high long-term capital appreciation.

National Pension Scheme (NPS)

• Contribute towards retirement while saving on taxes.
• Get tax deductions of up to 10% of salary (Section 80CCD) if opting for a Corporate NPS Account and Rs. 50,000 (Section 80 CCD(1B)) if opting for an Individual NPS Account.
• NPS offers a disciplined approach to retirement planning.

Home Loan

• Interest paid on home loans can be claimed as a deduction under Section 24 (up to Rs. 2 lakhs) and Section 80C (principal repayment).
• Individuals can consider refinancing their existing home loan for potentially better interest rates and tax benefits.

Explore a variety of investment options offered by different financial institutions on Bajaj Markets and their tax benefits. Individuals can make informed financial decisions and reach their financial goals.