Tax Saver Plan In Post Office. This post office saving scheme is for the betterment of the girl child. As mukesh is a senior citizen, he can avail deduction on bank saving, post office interest up to rs.50000.
Fixed deposits (fds) are another popular tax saving option covered by the section 80 c of the income tax act. The facility of premature withdrawal is also allowed after one year of deposit with a 1.5% penalty. The minimum amount that one can invest in this scheme is rs.250 and its maximum allowed limit is rs.1, 50, 000 in one financial year.
Interest Rate Offered Is 8.4 Percent Annually Which Will Be Paid Out Every Month.
There will be no bonus upon maturity. The interest rate is 4% and is fully taxable. Post office recurring deposit (rd) this another good saving post office schemes for boy child in india.
Concealed By Telephone, Messaging Apps, Emails, And Social Media, Post Offices Are Still In The Game When It Comes To Savings Schemes.
The time period for these fixed deposits are one year, two years, three years and five years. The maturity period for the deposit in this scheme is five years. Features of post office savings account.
The Amount Invested Is Safe, The Returns Are Guaranteed, And The Interest Rate Is Fixed.
By investing in this deposit scheme one can get taxation benefits under section 80c. This post office scheme is a government of india initiative, and hence the returns are guaranteed. Fixed deposits (fds) are another popular tax saving option covered by the section 80 c of the income tax act.
This Scheme Provides 8.5% Interest Rate Per Year And It Is Compounded Yearly.
This post office saving scheme is for the betterment of the girl child. Currently, the mis interest rate in the post office is 6.6% per annum payable monthly with a maturity period of 5 years. Benefits of post office savings scheme.
100, 000 Annually, The Rate Of Interest Varies From One Bank Or Post Office To Another.
A person can enjoy tax deduction of up to rs 10,000 from his or her interest income received from a post office savings account under section 80tta. Post office tax saving schemes are good investment options that offer guaranteed income. The minimum limit for investment is rs.