Small Savings schemes will continue to be attractive as some of them enjoy income tax benefits and additional interest rate spreads – Press Release from Finance Ministry.
Finance minister Arun Jaitley in his Budget speech last year had proposed the creation of Senior Citizens Welfare Fund saying, “there are unclaimed deposits of about Rs 3,000 crore in the PPF, and approximately Rs 6,000 crore in the EPF corpus
Additional Interest Rate spreads which the Government allows on Small Savings Schemes like PPF, Senior Citizen Savings Scheme, Sukanya Samridhi Scheme and NSC etc. are being continued
Based on Budget Speech in parliament the change in taxation with regard to EPF was interpreted to the effect that 60% of Employee subscription in EPF and PPF would be subjected to income tax
Times of India has published a news that the Government is set to reduce interest rates on small savings products such as public provident fund (PPF) and National Savings Certificate (NSC) over the next few days.
PPF Subscription Limit increased to Rs. 1.5 lakh – Department of Posts issues orders citing Finance Ministry’s Order Consequent on increase in savings limit under Section 80 C of Income Tax Act for getting rebate / exemption on Income Tax to Rs. 1,50,000/-in the recent budget 2014-15, PPF Subscription Limit has been increased Rs. 1,50,000 by […]