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Tax-Saving Bonds
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Tax-Saving Bonds
- These bonds offer tax benefits to owners, therefore helping them save a certain portion of their overall tax.
- Investors can earn a certain interest on these bonds if opted for, along with the special provision in the Income Tax Act offering tax benefits on investments.
- A special provision for tax saving bonds is offered under Section 80CCF of the Income Tax Act. Under this investors get the benefit of tax deductions up to Rs 20,000. Hence, one can reduce his/her taxable income by Rs 20,000 in a year.
- Note that the interest earned through the bond is taxable. Deduction offered under section 80CCF is over and above tax deduction u/s 80C that offers tax benefit up to Rs 1.5 lakh.
- Tax-saving bonds come with a minimum lock-in period of 5 years and are ideal for mid-long term investments.
- Returns from these tax-saving bonds are low when compared to other investments as these are low-risk options. Hence, experts say, conservative investors who want to invest without high risk, could consider this investment option.
- Additionally, investors looking for long-term returns could also opt for these tax-saving bonds, as they are not suitable for individuals looking for short-term returns.
