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As the government steals loopholes that help tax avoidance and brings other investment vehicles such as debt funds under the tax net, the search for tax-efficient investments is gaining momentum.
Tax saving investment products such as unit link insurance plans, public provident funds and Sukanya Samriddhi Yojana offer tax free returns on redemption. While ULIPs have conditions attached around the sum assured and premium paid and not many are comfortable combining insurance with investment, it can be a long-term compounder of money. 60 percent of the proceeds from the accumulated corpus in the National Pension Scheme can be withdrawn tax-free at maturity. Choose your investment carefully.
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