Money-making opportunity with Paytm; save income tax too

Paytm Money has recently launched National Pension Scheme (NPS) on its platform. For nearly 6 million users, Paytm Money app is now enabled and can help investors invest in small saving schemes and mutual funds — an investment bouquet that can attract all kinds of investors. Most importantly, these schemes not only give money-making opportunity, they help an investor save income tax outgo as wel - income tax exemption on investment up to Rs 1.5 lakh in one financial year is allowed.

Speaking on the money-making and tax saving options available on Paytm Money, SEBI registered tax and investment expert Jitendra Solanki said, "Paytm Money allows you to invest in the best debt and tax saving funds of the leading mutual fund houses in a simple and convenient manner. National Pension System (NPS) on its platform is now allowing its users to build a retirement corpus for future and save taxes in present.  Investment of up to Rs 50,000 in National Pension System (NPS) is also eligible for tax saving under section 80CCD (1B)." Solanki said that the fully digital KYC ensures that you become investment ready in a paperless and hassle-free manner with in 30 minutes.

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In addition to this, you can also explore a number of other investment ideas on Paytm Money.  The Risk Assessment Tool helps you to identify your risk profile so that you can pick a suitable fund. Let’s have a look at some of these:

1] Better than bank fixed deposit: Debt mutual funds that have a potential to generate higher returns than a bank fixed deposit over an investment period of 1 year. No lock-in period.

2] High Quality Funds- These debt funds invest in high quality bonds of banks, corporates, and PSU. Can potentially earn higher post tax returns than a 5 year FD.

3] Invest in All Types Of Companies- These mutual funds invest across companies of all sizes to give you medium-to-high returns over a period of 5-7 years.