What are the alternate options to invest money under the 80CCD from which I can get more returns than NPS?

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None. Also nps has a lock in so decide before investing

So how to save tax on this 50k money?

NPS is a good option, proceed ahead with it.
If you are in 30% tax bracket you would directly save 15k which would otherwise go as tax.
Also, this invested money compounds to a better value and can be utilised further down the line

There is no alternative to save tax on this 50k otherwise

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