If your annual income is more than Rs 2.5 lakh under the Income Tax Act, then it is important for you to file an Income Tax Return. That is, you have to pay tax on whatever income you have in excess of 2.5 lakh rupees. Although the income tax rules give you this facility, you can invest money in some squalls and claim the tax rebate on that money i.e. you will not have to pay tax on this money. Today, we are telling you about a scheme where you can save not just by investing money, but your investment will also make you 2 million owners in the long run.
Can invest 1.5 lakh annually in NPS
You can invest 1.5 lakh rupees annually in the New Pension System. An investment of Rs. 1.5 lakhs in NPS is tax-free, that is, it will not be taxed. Under the section 80C of the Income Tax Act, you can get tax rebate by investing up to Rs 1.5 lakh. By investing in this scheme, you can also secure the pension for yourself after retirement.
For every 2 crore fund, every month will have to invest Rs 10,000
You have to invest Rs.10,000 per month to build a fund worth 2 crores under NPS. For example, Manoj Kumar is 30 years old and he invests Rs 10,000 in NPS every month to save tax. In this way, they will invest Rs.120,000 in NPS in a year. They do not have to pay tax on this amount. If Manoj invests Rs.10,000 every month until the age of 60 and he gets 10% returns annually, then his retirement fund will be worth Rs.27.7 million in 30 years.
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