New Delhi, March 15 -- If you plan to opt for the old tax regime at the time of filing of income tax return (ITR) in July this year, you are entitled to claim income tax deduction. There are a number of tax-saving options which enable you to claim deduction such as those offered under section 80C of Income Tax (I-T) Act, 1961.

Here, we list out the small savings schemes, also known as post office schemes, offering income tax deduction under section 80C of I-T Act:

I. Senior Citizen Savings Scheme (SCSS): Investors are supposed to invest a minimum of Rs.1000 and not more than Rs.30 lakh.

The scheme offers 8.2 percent per annum, payable from the date of deposit to March 31/Sept 30/December 31 in the first instance and thereafter, interes...