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WHERE TO INVEST TO GET MAX RETURNS?

I have a small problem can you help me to slove this? My brother and myself have 1 daughter & 1 son EACH

My dad wants to invest rs:10000= for his grand children,that is rs:40000/=

He also wants to avail tax benifiets in his books

my dad’s age is 73 years

our children ages are

daughters: 18 & 16

sons: 13 & 14

PLease advise and oblige.

thanks.

regards

sanjay.

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