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Tax Saving Investment Opportunities – How they stack up in 2021

Tax Saving Investment Opportunities – How they stack up in 2021



Investors are getting ready for making their tax-saving investments for 2020 – 2021.

While there are a plethora of investment opportunities, tax-saving instruments need to be carefully chosen so that investors create wealth in the long term and don’t end up losing money. Most of these don’t carry the risk of losing capital because they involve long term investing, some of these give very little return. Hence it is advisable to choose judiciously.

We present a summary of the performance of these instruments in 2020 and our view on various investment opportunities for 2021.

Instrument

Returns in 2020

Finbingo Ratings

ELSS

13.2%

Excellent & highly advisable

NPS

11% – 14.3%

Excellent & highly advisable

ULIPS

8% – 10%

Good but avoid

PPF

7.1%

Good

Senior Citizen Saving Scheme

7.4%

Good & advisable for senior citizens

Sukanya Samriddhi Yojana

7.6%

Fairly Good & advisable for those with young daughter

Pension Plans

6% – 9%

Fairly Good

National Saving Certificate

6.8%

Not Good

Tax Saving FD

6-6.75%

Not Good


Data Source – Economic Times

Finbingo.com has a useful Tax Planning App and can be accessed from here – https://www.finbingo.com/tax-planning-advisor/

Please use it and save taxes, till the last Rupee. It is free of cost.

 
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