Outlook Money
Investments in SCSS qualify for tax benefits up to Rs 1.5 lakh in a financial year; SCSS offers an 8.2% annual interest.
Senior citizens looking for long-term investments can opt for PPF, which provides guaranteed income and tax exemptions on deposits, interest income, and maturity proceeds.
NSC has a lock-in of five years and offers 7.7 per cent interest, paid on maturity. It also offers tax benefits under Section 80C of the Income-tax act, 1961.
Seniors can opt for tax saver bank FDs or post office time deposits to earn regular income and avail of tax benefits up to Rs 1.5 lakh in a financial year.
Infrastructure companies issue bonds for projects like roads, airports, railways, bridges, etc. Infra bonds have a lock-in of 7-15 years, and provide a fixed interest rate and tax benefits under Section 80C.
Compiled BY Himani Verma