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Finance - Article discusses Rate of Interest, Limit of Investment and Income Tax Benefit from Investment in 8 Most Popular Tax Saving Instruments in India i.e. 1,2,3 and 5 year Time Deposit, 5 Year National Savings Certificates VIII Issue(NSC), 5 Year Post office Recurring Deposit(RD), 15 year Public Provident Fund(PPF), Post office Saving Bank...
Read MoreFinance - Section 80C replaced the existing Section 88 with more or less the same investment mix available in Section 88. The new section 80C has become effective w.e.f. 1st April, 2006. Even the section 80CCC on pension scheme contributions was merged with the above 80C. However, this new section has allowed a major change in the method of prov...
Read MoreFinance - Sukanya Samriddhi Yojana is a small deposit scheme of the Government of India meant exclusively for a girl child and is launched as a part of Beti Bachao Beti Padhao Campaign. The scheme is meant to meet the education and marriage expenses of a girl child. It is currently fetching higher interest rate and provides income-tax rebate....
Read MoreFinance - Sukanya Samriddhi Account Scheme is a small deposit scheme for girl child, as part of 'Beti Bachao Beti Padhao' campaign, which would fetch yearly interest rate of 9.1 per cent and provide income tax deduction Under section 80C of the Income Tax Act,1961....
Read MoreFinance - CA Sandeep Kanoi Central Government has notified Sukanya Samriddhi Account scheme vide Notification G.S.R.863(E) Dated 02.12.2014 to secure the future of Girl Child and Scheme has got good response too from the Citizens of India, considering the Tax benefit and Higher Rate of Interest which Scheme was providing. Interest Rate on the Schem...
Read MoreFinance - The revised Rates of Interest on various Small Savings Schemes Including Saving Deposits, Public Provident Fund, Kisan Vikas Patra and Sukanya Samriddhi Accounts Scheme for the 4th Quarter of financial year 2017-18 is as below:...
Read MoreFinance - Government has decided to effect a reduction of 0.1 percentage points in interest rates across the board in all Small Savings Schemes except the Post Office Savings Account, which has been left untouched....
Read MoreFinance - Government is continuously monitoring the progress of Sukanya Samriddhi Account Scheme. It was launched on 2nd December, 2014 and since then the number of accounts opened under this scheme have been showing upward trend and 99,96,085 accounts have been reported opened till 31st October, 2016 and Rs. 9455.30 crore have been deposited unde...
Read MoreFinance - The interest rates of Public Provident Fund (PPF), Kisan Vikas Patra (KVP), Senior Citizens Savings Scheme, 2004 (SCSS 2004), and Sukanya Samriddhi Account (the Girl Child Scheme) were reduced by 0.10 percentage point for the quarter 01.10.2016 to 31.12.2016, and not 0.10 percentage per annum....
Read MoreFinance - On the basis of the decision of the Government, interest rates for small savings schemes are to be notified on quarterly basis. Accordingly, the rates of interest on various small savings schemes for the second quarter of financial year 2016-17, on the basis of the interest compounding/payment built-in in the schemes, shall be as under: ...
Read MoreG.S.R. 617(E) - (05/07/2018) - Sukanya Samriddhi Account Account may be opened with a minimum initial deposit of two hundred and fifty rupees and thereafter any amount in multiples of two hundred and fifty rupees may be deposited in an Account subject to the condition that a minimum of two hundred and fifty rupees shall be mad...
Read MoreF.No.01/04/2016-NS - (27/12/2017) - Rates of interest on various small savings schemes for the fourth quarter of financial year 2017-18 starting 1st January, 2018 and ending on 31st March, 2018, on the basis of the interest compounding payment built-in in the schemes, shall he as under....
Read MoreNotification No. G.S.R. 1242(E) - (29/09/2017) - (a) 'Aadhaar number' means an identification number as defined in clause (a) of section 2 of the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 (18 of 2016); (aa) 'Account' means a Savings Account, a Recurring Deposit Account, a Time deposit Account, Mo...
Read MoreRBI/2016-17/225 DGBA.GAD.2012/15.02.005/2016-17 - (09/02/2017) - The Government of India, had vide their Office Memorandum (OM) No.F.No.1/04/2016–NS.II dated December 30, 2016 advised the rate of interest on various small savings schemes for the fourth quarter of the financial year 2016-17 (copy enclosed)....
Read MoreF.No. 1/04/2016-NS.II - (30/12/2016) - interest on various small savings schemes for the fourth quarter of financial year 2016-17 starting on 1st January, 2017 and ending on 31st March,2017,...
Read MoreG.S.R. 617(E) - (05/07/2018) -
F.No.01/04/2016-NS - (27/12/2017) -
Notification No. G.S.R. 1242(E) - (29/09/2017) -
RBI/2016-17/225 DGBA.GAD.2012/15.02.005/2016-17 - (09/02/2017) -
F.No. 1/04/2016-NS.II - (30/12/2016) -
