New Delhi, June 27 -- Small savings schemes have remained popular investment options for risk-averse investors, especially as they offer government backed safety, assured returns and competitive interest rates. While several of these schemes also help investors save tax on their contributions under Section 80C of the Income Tax Act, not all of them qualify for the deduction.

The government currently offers eight major small savings schemes, including PPF, NSC, SSY (for girl child), SCSS (for senior citizens), recurring deposit and KVP (Not just limited to farmers).

The following schemes are eligible for deduction:

Investments made in these schemes can be claimed as a deduction under Section 80C of the Income Tax Act, helping investors ...