New Interest Rates of Indian Post Office

As per below mentioned applied on 1st April,2020

1. PPF: For the April-June 2020 quarter, 15-year Public Provident Fund scheme will fetch an annual interest rate of 7.1% (compounded annually) as compared to 7.9% earlier.

2. NSC: Interest rate on the National Savings Certificate (NSC), a government-backed five-year small savings scheme, has been slashed 110 basis points to 6.8% from 7.9% earlier. The amount is compounded annually and paid on maturity.

3. KVP: Kisan Vikas Patra (KVP) will now yield 6.9% (compounded annually), down 70 bps from 7.6% earlier, with maturity of 124 months.

4. Post office term deposits: Post office term deposits of 1-3 years will fetch interest rate of 5.5%, to be paid quarterly, down by a sharp 140 basis points from 6.9% offered earlier. The 5-year deposit rate now stands revised to 6.7% from 7.7%. The 5-year recurring deposits will return 5.8% compared with 7.2% earlier.

5. Post Office Monthly Income Scheme: The five-year Post Office Monthly Income Scheme (MIS), where interest is paid out monthly, will fetch 6.6% as compared to 7.6% earlier.

6. Senior Citizens Savings Scheme: Interest rate for the five-year Senior Citizens Savings Scheme has been cut 120 bps to 7.4% compared with 8.6% earlier. The interest payout continues to be on a quarterly basis.

7. Sukanya Samriddhi Scheme: The girl child savings scheme Sukanya Samriddhi Yojana Account will now fetch 7.6% (compounded annually), down 80 bps from 8.4% earlier – the highest rate among small savings schemes.

8. Savings deposit: The interest rate on savings deposit has been retained at 4%.

As demonetisation era ends, banks to levy cash transaction charge

The end of demonetization (Rs.500 & Rs.1000) era is just round the corner. Come March 1,2017,The leading banks will be levying charges on cash transactions above a certain limit.
HDFC bank has issued a notification to its customers that they will be levying cash transaction charge. Only four cash transaction cumulatively, that is deposit and withdrawal, will be free and subsequently the customers will have to shell out a minimal fee of Rs 5 or Rs 150 per Rs 1000 transaction depending on the amount.
So if you are an HDFC customer, you can withdraw or deposit total Rs 2 lakh rupees per month per account without any transaction fee. For non-home branch, the limit is upto Rs 25,000 per day, beyond which charges apply.

ICICI bank is also planning to implement the same rider. Every fifth transaction, for cash withdrawal and deposit cumulatively, will be charged with Rs 150 or Rs 5 per Rs 1000. The bank has not specified any maximum amount limit.
Interestingly, Finance Minister Arun Jaitley has already put a cap of Rs 3 lakh for cash transaction in the recent budget.
The third bank in the line is Axis Bank that has given an extra cash transaction limit-- upto five cash transactions or Rs 10 lakh transaction will be free, post which same riders will be applied.
The banks claim that these curbs will boost digital economy, there is no denying that remonetisation is yet to be completed. Many banks are still reeling under cash crunch and this move will discourage cash withdrawals as well.

Income Tax Slab for the FY -2017-18

After the demonization of Rs.500 & Rs.1000 the finance minister was announced the income tax scheduled on the Aam Budget are as follows:-

The Tax rate for lowest income tax slab slashed to 5% from 10%, surcharge of 10% slapped on incomes over Rs 50 lakh 

The finance minister has proposed to slash the tax rate for individuals in the lowest income tax slab – Rs 2.5 lakh to Rs 5 lakh –to 5% instead of 10%. The existing rebate under Section 87A (currently given to people with income up to Rs 5 lakh) is proposed to be reduced to Rs 2500 from the existing Rs 5000 for individuals earning between Rs 2.5 lakh to Rs 3.5 lakh. 

As a result of the combined effect of the new Section 87A rebate and the reduction in the lowest slab tax rate to 5% the tax burden for those with income upto Rs 3 lakh would be zero and tax burden those in the Rs 3 lakh to Rs 3.5 lakh bracket would be Rs 2500. 

Those earning Rs 4.5 lakh can therefore reduce their tax liability to zero by fully utilising the tax break under Section 80C combined with these new proposals. 

Those falling in the higher income tax slabs will also be eligible for this lower tax rate of 5% on income between Rs 2.5 lakh and Rs 5 lakh. Therefore, those in the higher tax slabs will pay lower tax by Rs 12500 per person. 

How to Tax Rebate in Working Professional Life

Hi Viewers / Friends ,

first of all i wish to all of you happy Beneficial for the Tax Rebate like Job & Business after apply this given below scheme -

Here there are so many tips for how to control and saving money as per govt. policy -
Now in our life three most important way to Tax Rebate in Job & Business like PPF ,NSC Through Post office & another last one is LIC Through Govt. of India , due to all are beneficial for tax Rebate and Money Saving In our life ..So i Requesting to all hurry up Apply this Saving Scheme --

POST OFFICE 

Plan -1 st

National Saving Certificate (NSC)

• Scheme specially designed for Government employees, Businessmen and other salaried classes who are Income Tax assesses.
• No maximum limit for investment.
• No Tax deduction at source.
• Certificates can be kept as collateral security to get loan from banks.
• Investment up to INR 1,00,000/- per annum qualifies for IT Rebate under section 80C of Income Tax Act.
• Trust and HUF cannot invest.
• Rate of interest 8.50%.
• Maturity value of a certificate of INR.100/- purchased on or after 1.4.2012 shall be INR. 151.62 after 5 years.

NSC IX Issue

• No maximum limit for investment.
• INR. 100/- grows to INR 234.35 after 10 years.
• Minimum INR. 100/- No maximum limit available in denominations of INR. 100/-, 500/-, 1000/-, 5000/- & INR. 10,000/-.
• A single holder type certificate can be purchased by an adult for himself or on behalf of a minor or to a minor.
• Rate of interest 8.80%.
• Maturity value of a certificate of INR.100/- purchased on or after 1.4.2012 shall be INR. 236.60 after 10 years.

Buy National Savings Certificates (NSCs) every month for Five years – Re-invest on maturity and relax - On retirement it will fetch you monthly pension as the NSC matures.

Will Be publish on Coming Soon for the 2nd Tax Rebate Plan