Safe investments for tax saving for senior citizen rekha, 25 Mar 2013

i want to ask for my widowed mother aged 70. my father has left good dividend income,many good mfs,fds.she has no liability. the problem is this that because of interests on fds she has reached maximum tax rebate. i dont want to put her surplus money in either equity or mfs.any further investments in fds will make her income taxable. is there any other instrument where i can invest her money where it is safe.

Fintotal Answer

Sure she can invest in NSC. Interest is tax-free plus her taxable income can be reduced by up to Rs 1 lac for NSC deposits. There is no upper cap on NSC deposit in a year.

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