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- Tax Saving Investments 2024 Deadline; PPF, Time Deposit And Sukanya Scheme Particulars
New Delhi3 minutes in the past
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The brand new 12 months 2024 has began, this 12 months you must full many necessary duties. One among these duties is tax saving funding for the monetary 12 months 2023-24. It’s important to make this funding by 31 March 2024. If you wish to save tax together with secure funding, then there are 5 schemes of Submit Workplace together with PPF, Time Deposit and Sukanya Scheme in which you’ll be able to make investments. Aside from saving tax, these schemes may even allow you to get returns as much as 8.2%.
Right here right this moment we’re telling you about these schemes…
1. Senior Residents Financial savings Scheme
- The scheme is providing an rate of interest of 8.2% every year.
- The account may be opened after 60 years of age or above.
- An individual taking VRS who’s greater than 55 years however lower than 60 years may open this account.
- Cash may be invested beneath the scheme for five years. After maturity, this scheme may be prolonged for 3 years.
- Underneath the scheme, you’ll be able to make investments a most of Rs 30 lakh. Click on right here for extra data associated to this schemes
2. Sukanya Samriddhi Yojana
- Underneath this, the account may be opened after the start of a lady little one earlier than she turns 10 years of age.
- You may open this account for less than Rs 250. On this, curiosity is being given on the charge of 8.2% every year which is greater than mounted deposits.
- A most of Rs 1.5 lakh may be deposited beneath Sukanya Samriddhi Yojana within the present monetary 12 months.
- The account may be opened in any put up workplace or approved department of the financial institution. Click on right here for extra data associated to this scheme
3. Public Provident Fund
- At current, 7.1% curiosity is being given on the quantity deposited in Submit Workplace Public Provident Fund (PPF) accounts.
- Curiosity on deposits is calculated on an annual foundation, which implies it’s added to the principal quantity yearly.
- PPF comes beneath the EEE class of exemption. Because of this earnings from returns, maturity quantity and curiosity is exempted from earnings tax.
- This account may be opened for 15 years, which may be prolonged for additional 5 years.
- An account may be opened in PPF with a minimal of Rs 500. On this, it’s obligatory to speculate at the very least Rs 500 in a monetary instrument.
- Underneath this scheme, you’ll be able to make investments a most of Rs 1.5 lakh within the account in a 12 months. Click on right here for extra data associated to this
4. Nationwide Financial savings Certificates
- Funding in Submit Workplace Nationwide Financial savings Certificates (NSC) is incomes 7.7% annual curiosity.
- On this, curiosity is calculated on annual foundation, however the curiosity quantity is given solely after the funding interval.
- To open an NSC account you’ll have to make investments a minimal of Rs 1000.
- You may make investments any quantity in NSC. There is no such thing as a most restrict on funding on this. Click on right here for extra data associated to this schemes
5. Time Deposit Scheme
- This can be a kind of mounted deposit (FD). On this, by investing lump sum cash for a set interval, you’ll be able to benefit from mounted returns and curiosity funds.
- Submit Workplace Time Deposit Account gives rates of interest starting from 6.9 to 7.5% for tenures starting from 1 to five years.
- In keeping with the official web site of Indian Submit, you’ll be able to avail tax exemption beneath 80C by investing in mounted deposits for five years.
- In case you deposit in time deposit for five years, you’re going to get curiosity on the charge of seven% every year.
- A minimal funding of Rs 1000 must be made on this. There is no such thing as a restrict on most funding. Click on right here for extra data associated to this
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2024-03-06 09:49:58
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