6 Tax-Saving Investments To Consider Before The Year-End
3 weeks ago

6 Tax-Saving Investments To Consider Before The Year-End

ABP News  

With 2024 about to conclude, it is time to finalise and submit investment proofs to your employer. Equity Linked Savings Schemes ELSS are tax-saving mutual funds that invest largely in stock markets and offer tax deductions up to Rs 1.5 lakh per year under Section 80C of the Income Tax, 1961. Moreover, investments in tax-saver FDs up to Rs.1.5 lakh are eligible for tax deduction under Section 80C of the Income Tax Act, 1961. Investments in NSC up to Rs.1.5 lakh per year qualify for tax deduction under Section 80C. NPS contributions are tax-deductible under different sections of the Income Tax Act, 1961–Subscriber’s contribution to Tier I investments is tax-deductible within the total limit of Rs 1.5 lakh under Sec 80CCD.

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History of this topic

From ELSS to PPF: 7 key tax-saving investments you should make before the financial year ends
1 month ago

From ELSS to PPF: 7 key tax-saving investments you should make before the financial year ends

Live Mint  

If you plan to file your income tax return under the old tax regime, you can start making investments in some tax-free instruments in order to claim deduction under section 80C before the financial year comes to an end. Under section 80C of Income Tax, taxpayers can claim tax deduction against their investment in a few select saving instruments which …

PPF: Interest rate offered on Public Provident Fund vis-a-vis other Small Savings Schemes. Check entire list here
1 month, 2 weeks ago

PPF: Interest rate offered on Public Provident Fund vis-a-vis other Small Savings Schemes. Check entire list here

Live Mint  

Are you looking to invest in a safe financial instrument for a long term investment? Other small savings scheme besides PPF Post office savings account: It offers 4 percent interest per annum. 1-year-time deposit: It gives 6.9 per cent interest per annum 2-year time deposit: It offers 7 per cent interest per annum. Senior Citizen Savings Scheme: This scheme offers …

World Senior Citizens Day 2024: Check these investment options with best returns for older adults
4 months ago

World Senior Citizens Day 2024: Check these investment options with best returns for older adults

India TV News  

If you want to secure your life, then the primary objective should be to secure a steady income from a saved sum of money to support a pleasant life after retirement. On this World Senior Citizen’s Day 2024, check here the list of best investment options for elderly adults: Senior Citizens Savings Scheme Launched by the Central government in August …

PPF: Triple advantage of Public Provident Fund— explained
6 months, 3 weeks ago

PPF: Triple advantage of Public Provident Fund— explained

Live Mint  

The Public Provident Fund in India offers a secure long-term savings avenue with guaranteed interest rates and income tax deductions under Section 80C. Second, the contributions made to a PPF account qualify for tax deductions under Section 80C of the Income Tax Act, providing additional financial benefits to investors. "Initially, it furnishes a secure and low-risk pathway for long-term savings, …

All You Need To Know About Govt's Senior Citizen Savings Scheme
1 year, 7 months ago

All You Need To Know About Govt's Senior Citizen Savings Scheme

News 18  

The Senior Citizen Savings Scheme has been launched by the government to help elderly people save more money for their later years. Senior Citizen Savings Scheme investments receive 8.2% interest from banks and post offices. Seniors now have more investment options than ever, thanks to SCSS’s current interest rate of 8.2%, but those who opened accounts in the programme earlier …

How senior citizens can make the most from a portfolio of SCSS & PMVVY schemes?
1 year, 9 months ago

How senior citizens can make the most from a portfolio of SCSS & PMVVY schemes?

Live Mint  

The two most well-liked government-backed initiatives for elderly adults during the prevailing interest rate regime are the Senior Citizen Savings Scheme and Pradhan Mantri Vaya Vandana Yojana. The Finance Minister Nirmala said on February 1, 2023, during the presentation of the Union Budget, that the Senior Citizens Savings Scheme's maximum deposit limit will increase from Rs. Nirmala Sitharaman, has increased …

Senior Citizens Savings Scheme: Govt To Mop Up Rs 75,000 Crore in FY24, Know About this Scheme
1 year, 10 months ago

Senior Citizens Savings Scheme: Govt To Mop Up Rs 75,000 Crore in FY24, Know About this Scheme

News 18  

The maximum investable amount of the senior citizen savings scheme could mobilise Rs 75,000 crore. To open the account under the senior citizen savings scheme, minimum deposit of Rs 1,000 is required in the multiples thereof with maximum deposit of Rs 30 lakh. Senior Citizens Savings Scheme Interest Rate Interest shall be payable from the date of deposit to 31st …

Finance Secretary defends higher investment limit in saving schemes, says…
1 year, 10 months ago

Finance Secretary defends higher investment limit in saving schemes, says…

Hindustan Times  

The decision to raise the investment ceilings in small savings schemes is aimed at benefiting senior citizens and the middle class who park funds in safe government deposit schemes offering higher returns than banks, Finance Secretary TV Somanathan has said. The government every quarter reviews and fixes the interest rate for small savings schemes The Budget 2023-24 raised the maximum …

Senior Citizen? Want Better Returns Than FD, Tax Benefits, Regular Income Post Retirement? Do This
2 years, 5 months ago

Senior Citizen? Want Better Returns Than FD, Tax Benefits, Regular Income Post Retirement? Do This

News 18  

If you are a senior citizen and wants a regular stream of income and tax saving benefits, the Senior Citizens Savings Scheme is the scheme you should consider. It is a government retirement saving scheme that helps senior citizens receive quarterly interest payments along with tax benefits. For instance, Punjab National Bank offers interest rates in the range of 3.50-5.75 …

Senior Citizens Savings Scheme: Interest Rates, Tax Benefits, Who Can Invest, Key Details
2 years, 5 months ago

Senior Citizens Savings Scheme: Interest Rates, Tax Benefits, Who Can Invest, Key Details

News 18  

Senior Citizens Savings Scheme: The government has recently announced interest rates for several small savings schemes including the Public Provident Fund, Sukanya Samriddhi Yojana and the Senior Citizens Savings Scheme. What are the Features of Senior Citizens Savings Scheme -A person can open an SCSS account with a minimum deposit of Rs 1,000, while the maximum can be raised to …

PPF, Senior Citizen Scheme, Others: Want to Invest? Check How Much Return You Will Get
2 years, 5 months ago

PPF, Senior Citizen Scheme, Others: Want to Invest? Check How Much Return You Will Get

News 18  

Post Office Savings Scheme Interest Rates: The government has recently said in an order that the interest rates of various small savings schemes including Sukanya Samriddhi Yojana, Senior Citizens Savings Scheme and the Public Provident Fund, will remain unchanged for the July-September 2022 quarter even as inflation rates remained high in the country. As per the latest circular Public Provident …

EPF Interest At 4-Decade Low: Here're Current Rates Offered By PPF, NSC, Kisan Vikas Patra
2 years, 6 months ago

EPF Interest At 4-Decade Low: Here're Current Rates Offered By PPF, NSC, Kisan Vikas Patra

News 18  

The government has ratified a four-decade-low interest rate of 8.1 per cent on employees’ provident fund deposits for 2021-22. Post office savings deposits offer an interest rate of 4 per cent per annum, while time deposits of the tenure 1-3 years offer 5.5 per cent per annum. National Saving Certificates and Kisan Vikas Patra are offering annual interest rates of …

Senior Citizen Savings Scheme Offers 7.4% Interest per Annum; Know Eligibility, Other Benefits
2 years, 7 months ago

Senior Citizen Savings Scheme Offers 7.4% Interest per Annum; Know Eligibility, Other Benefits

News 18  

In India, senior citizens often depend on bank fixed deposits or recurring deposits for a regular income after their retirement. The Senior Citizen Savings Scheme, or SCSS, is a special savings scheme specifically designed for the older population. Features of Senior Citizens Savings Scheme -An individual can open an SCSS account with a minimum deposit of Rs 1,000, while the …

PPF vs EPF vs NPS vs mutual funds: Guide to your pension plans
2 years, 8 months ago

PPF vs EPF vs NPS vs mutual funds: Guide to your pension plans

India Today  

Savings for retirement and pension plans are essential even as one needs to look after immediate goals such as children's education and buying a house or flat. PPF INTEREST RATE, INCOME TAX BENEFITS PPF is considered as one of the safest avenues for saving as it offers guaranteed and income tax-free returns. PPF also offers Rs 1.5 lakh deduction on …

Post Office Savings Scheme: Invest in These Schemes to Get Better Return Than FD; Know More
2 years, 10 months ago

Post Office Savings Scheme: Invest in These Schemes to Get Better Return Than FD; Know More

News 18  

Post Office Savings Scheme: Investing in a good savings scheme has always been a priority for the middle class in India, who predominantly looks to invest in a policy with high rate of interest and guaranteed returns. While fixed deposits at banks cater to that need, the rate of interest and tax benefits are not as high as post office …

Provident Fund, Fixed Deposit, Insurance and More: Savings Guide for You in 2022
2 years, 11 months ago

Provident Fund, Fixed Deposit, Insurance and More: Savings Guide for You in 2022

News 18  

The best tax saving options under Sec 80C are- If you invest in an ELSS Fund or Tax Saving Mutual Fund, it will be considered as the best tax saving option. Apart from the limit of Rs 1.5 lakh inclusive of Section 80C limit, one can also claim an additional deduction of Rs 50,000 for investment in NPS under Section …

PF, PPF, Senior Citizen Scheme Interest for This Quarter: Know Rates Before Investing
3 years, 2 months ago

PF, PPF, Senior Citizen Scheme Interest for This Quarter: Know Rates Before Investing

News 18  

Bringing a good news for investors, the government has kept the post office small savings schemes interest rates unchanged for the October-November-December 2021 quarter. The interest rate on PPF remains at 7.1 per cent per annum while for the Senior Citizen Savings Scheme, the interest rate is 7.4 per cent per annum. The 5-year Monthly Income Account Scheme is offering …

Looking for Investment Plans for Elderly Parents? Check this Scheme, Return, Benefits
3 years, 3 months ago

Looking for Investment Plans for Elderly Parents? Check this Scheme, Return, Benefits

News 18  

The Senior Citizens Savings Scheme is a healthy alternative for people of retirement age. With that in mind, here is a broad overview of the Senior Citizens Savings Scheme, which can offer good investment options to those who are 60 years of age or older. Overview of the Senior Citizens Savings Scheme The scheme was brought into being in August …

Options for senior citizens to earn regular income with low risk
3 years, 5 months ago

Options for senior citizens to earn regular income with low risk

Live Mint  

NEW DELHI: Many senior citizens require regular income. 1) Senior citizens savings scheme : You can invest ₹15 lakhs in SCSS which is a five-year product extendable by another three years. 5) About ₹1.50 lakh can be invested annually in tax saving fixed deposits or postal National Savings Scheme to reduce taxable income under Section 80C. “The above portfolio is …

This Govt Scheme Offers 7.4% Returns Amid Record Low Interest Rates. Details Here
3 years, 6 months ago

This Govt Scheme Offers 7.4% Returns Amid Record Low Interest Rates. Details Here

News 18  

Senior citizens often depend on banks FDs for a regular income after retirement. One attractive investment option for the elderly population, including people who are 60 or above, is the Senior Citizens Savings Scheme. The Senior Citizens Savings Scheme provides an annual return rate of 7.4 per cent. In addition to individual accounts, banks within the Senior Citizens Savings Scheme …

Looking For Good Returns? Invest in These 3 Schemes: Know Features, Benefits Here
3 years, 8 months ago

Looking For Good Returns? Invest in These 3 Schemes: Know Features, Benefits Here

News 18  

If you are someone who is looking to invest their money but are also not sure about taking the risk of the stock market and other plans, it may be tough for you to manage your investments. The Sukanya Samriddhi Account, Senior Citizens Savings Scheme, and Public Provident Fund offer the highest return rates in the basket of small saving …

Here's List of Top Government Schemes to Invest in 2021
3 years, 10 months ago

Here's List of Top Government Schemes to Invest in 2021

News 18  

Several savings schemes have been launched by the government in order to encourage people to invest in government-backed schemes. Government Securities Retail investors have a number of ways to invest in government securities Treasury bills and the Government of India dates bonds on the primary market. Atal Pension Yojana The Atal Pension Yojana is a guaranteed pension scheme by the …

PPF or VPF? Know Which Saving Scheme is Better for You
3 years, 11 months ago

PPF or VPF? Know Which Saving Scheme is Better for You

News 18  

Who wouldn’t prefer a saving scheme that ensures corpus security, assured returns along with tax benefits? Among the most commonly subscribed tax saving investments are the Public Provident Fund and Voluntary Provident Fund. In layman terms, VPF is a voluntary contribution made by an employee from her salary into the Provident Fund account. The scheme is an extension of the …

PPF, SSY and Kisan Vikas Patra: What are 'Small Saving Schemes' and their Importance?
4 years ago

PPF, SSY and Kisan Vikas Patra: What are 'Small Saving Schemes' and their Importance?

News 18  

The general excuse for most middle-class families for not saving enough is that the earning is not remotely enough that one can think about stashing something away as savings. It is for these people we have the Small Savings Schemes like the Sukanya Samridhi Yojana, Public Provident Fund, Kisan Vikas Patra and National Savings Certificate. This scheme provides a maximum …

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