Hi, Vivek good morning, my dad is 84 years and he has a pension of 19 plus lakhs, to save he puts in PPF only and is their any other options to save his tax.
Ans: Hello,
Its better to invest in ELSS rather than PPF because of many reasons like returns, liquidity, ease of access, etc.
Also from FY 23-24, I assume the new regime will be a better option for him so no need to park his money in PPF, rather he can do an sip in Mutual funds for his investments
Please note that these suggestions are based on your stated goals and the information you provided. It is always a good idea to consult with a financial advisor in person to better understand your risk tolerance, time horizon, and specific financial goals.