What are the different tax savings options available in my country?

There are several tax savings options available in India. Some of the popular tax savings options are:

1. Public Provident Fund (PPF): PPF is a governmentbacked savings scheme that offers taxfree returns on investments. The contributions made to PPF are eligible for tax deductions under Section 80C of the Income Tax Act.

2. EquityLinked Saving Scheme (ELSS): ELSS is a taxsaving mutual fund that invests primarily in equities. The investments made in ELSS are eligible for tax deductions under Section 80C of the Income Tax Act.

3. National Pension Scheme (NPS): NPS is a retirementfocused investment scheme that offers tax benefits under Section 80C and Section 80CCD of the Income Tax Act.

4. Taxsaving Fixed Deposits: Taxsaving fixed deposits are offered by banks and are eligible for tax deductions under Section 80C of the Income Tax Act.

5. UnitLinked Insurance Plan (ULIP): ULIP is a combination of insurance and investment. The investments made in ULIP are eligible for tax deductions under Section 80C of the Income Tax Act.

6. Senior Citizens Savings Scheme (SCSS): SCSS is a savings scheme for senior citizens that offers tax benefits under Section 80C of the Income Tax Act.

7. Sukanya Samriddhi Yojana (SSY): SSY is a savings scheme for the girl child and offers tax benefits under Section 80C of the Income Tax Act.

8. National Savings Certificate (NSC): NSC is a fixedincome investment scheme offered by the government and is eligible for tax deductions under Section 80C of the Income Tax Act.

It is important to note that the tax savings options and their eligibility criteria may change from time to time, and it is advisable to consult a financial expert or tax consultant for personalized advice.