Q: I am 50,I have 3 lakhs money how I invest to get tax free returns.

Ans: Tax free returns are possible in two kinds of Investment:

  • First option is to take Life Insurance Policy which will provide you Tax benefit u/s 80C (maximum limit 1.5 Lakhs) at the time of filling your Income Tax Return of the Financial Year to get the benefit and also get a benefit of Tax Free maturity u/s 80TTA. 
  • Second option is to invest your money in PPF (Public Provident Fund) with a specific Interest Rate which will also provides you 80C Tax deduction benefit upto 1.5 Lakhs along with a Tax free maturity.
Please remember that you can get only and only Rs. 1.5 Lakhs as a Tax Deduction u/s 80C while filing your Income Tax Return. 

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