Giving information, Rajesh Kumar, Postal Superintendent of Purnia Head Post Office, says that there is no such scheme of the post office which gives safe and guaranteed benefits to the people. However, he said that one scheme among all these is of PPF or Provident Fund accounts. In which a very small amount can be deposited monthly or annually and a large amount can be easily withdrawn at once by withdrawing it at a fixed time period.

Invest in this scheme and get guaranteed returns.

If you are looking for a special scheme for investment in which there is no risk and the profit is also good, then Public Provident Fund i.e. PPF can be a better option for you. Any Indian citizen can easily invest in this scheme. Investment in PPF can be deposited up to a maximum of 1.5 lakh rupees annually and a minimum of ₹500. However, this scheme is for 15 years and it gives the benefit of compound interest. This return is completely tax free. Currently, interest is given on PPF at the rate of 7.1% per annum. If you also want to invest in PPF, then understand the calculation here how much total return you can get by investing 2000, 3000, 4000 and ₹5000 monthly.

Also Read: UPI Users Update: These users will get new service, will be able to make payment by cash also

Understand the calculation of PPF.

If you deposit ₹100 daily, i.e. ₹3000 per month, then you will invest a total of ₹36000 in a year. In 15 years, this amount will accumulate to ₹540000 and with the benefit of the fixed compound interest on it, you will get approximately 3.5 lakh rupees as interest. That is, in this way, after a total of 15 years, when your scheme matures, you will easily get approximately ₹800000.

Postal Superintendent gave the information

While giving information, Rajesh Kumar, Postal Superintendent of Purnia Pradhan Post Office, while talking to Local 18, said that nowadays anyone can easily invest in PPF account. However, this account can also be easily opened for adults and small children. To open the accounts of children, their account will be opened on the basis of their parents. Along with this, he says that the facility of giving loan is also provided to the people depositing in this account in the future, which will be available for 36 months at 1℅ interest. At the same time, if the consumer wants, he can also withdraw easily in time, but he will get more money when the full period is over.

You can easily open a PPF account.

Purnia division’s Postal Superintendent Rajesh Kumar says that this scheme Public Provided Fund is called Provident Fund account which gives people guaranteed and secure returns in future. In such a situation, if you also want to invest and want to open a PPF Public Provident Fund account in the head post office or your nearest post office, then for this you should reach the local post office with your Aadhar card, photo, mobile number and PAN card where your account will be opened instantly and you will be given the benefits of the scheme.

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The sooner you start this, the less your tension will be for your children’s future. Let us tell you how you can make your child the owner of Rs 2 crore.

After all, who is not worried about the future of children? When they grow up, you have to start financial planning much in advance for everything from their education to marriage. Otherwise you will have to worry later. Imagine if you are told about such an investment scheme which can make children the owners of more than Rs 2 crore at the age of 21.

If you are a newly married couple or have just become parents. Then you can start this investment plan from the birth of the child. In 21 years, it will give you so much return that the child will have an amount of more than Rs 2.1 crore. Let’s understand the calculation

Deposit just Rs 10,000 every month

If you want your child to have more than Rs 2 crore at the age of 21, then you will have to invest Rs 10,000 every month in SIP. With this, you will be able to deposit Rs 25.20 lakh in the name of the child in 21 years. Now let us assume that you get 16 percent return on SIP. Then you will have an amount of Rs 2.06 crore after completion of 21 years.

Rs 25.20 lakh deposited in the name of the child will earn you Rs 1.81 crore in 21 years. After the child turns 21 years of age, this amount can be used for investment in the child’s education, marriage or business. By the way, let us tell you that ICICI Prudential Multi Asset Fund has given returns of up to 21%.

If you get only 12% interest

Let us assume that you did not get 16% interest and got only 12% interest in SIP. Even then you will not have to regret your investment. In that case also your child will have a return of Rs 88.66 lakh on an investment of Rs 25.20 lakh. He will have a total amount of Rs 1.13 crore.

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Post Office Small Savings Schemes are the best option for guaranteed returns without risk. One of these is the superhit Time Deposit (TD) scheme of the post office. In this scheme, lump sum deposit can be made for maturity of 1, 2, 3 and 5 years. In this, interest rates on depositing money are paid on annual basis.

Post Office TD: Know the details of interest rates

The interest rate on post office time deposit of 1 year is 6.90 percent and on 2 years it is 7 percent. Apart from this, 7 percent interest is being given on 3 year deposits and 7.5 percent annual interest is being given on 5 year deposits. These interest rates are applicable from 1 July-30 September 2023.

₹2.25 lakh interest on ₹5 lakh in 5 years

According to Post Office TD Calculator, if you deposit Rs 5 lakh for 5 years, the maturity amount will be Rs 7,24,974. That means, Rs 2,24,974 will be earned from interest. The deposit rates of Post Office Small Savings Schemes are reviewed every quarter by the government. This means that interest rates may change every quarter. But, in term deposits, the interest rates fixed at the time of deposit remain for the entire maturity period.

Tax deduction will be available on 5 years TD

The benefit of tax exemption is available on TD of 5 years in post office. Under Section 80C of Income Tax, tax deduction can be claimed on investments up to Rs 1.5 lakh. Keep in mind here that the amount received on maturity in TD is taxable.

Single account and joint account are also opened under Post Office TD. Maximum 3 adults can be included in the joint account. This account can be opened with a minimum of Rs 1000. After this you can invest in it in multiples of Rs 100. There is no limit on investment in post office time deposit.

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This scheme is Post Office Monthly Income Scheme (Post Office MIS). Market fluctuations have no effect on your investment in this scheme. In this your money remains completely safe. Investment has to be made only once in MIS account. Its maturity is 5 years.

₹3,083 monthly income on ₹5 lakh deposit

Monthly income is guaranteed in the Post Office MIS Scheme. Single account holders can deposit a maximum of Rs 9 lakh in this scheme. 7.4 percent annual interest is being given on this scheme. It is paid on quarterly basis. According to MIS Calculator, if you deposit Rs 5,00,000 in lump sum, then you will get an income of Rs 3,083 every month. That means, you will get Rs 36,996 from interest annually. If you open a joint account, you can deposit a maximum of Rs 15 lakh in lump sum.

Maturity of Post Office MIS is five years, there can be premature closure in it. However, you can withdraw money only after completion of one year from the date of deposit. According to the rules, if money is withdrawn between one year and three years, then 2 percent of the deposit amount will be deducted and returned. If you withdraw money before maturity after 3 years of account opening, then 1 percent of your deposit will be deducted and returned.

Easy to open account

Any citizen of the country can open Post Office MIS. Account can also be opened in the name of the child. If the child is below 10 years of age, then the account can be opened in his name on behalf of his parents or legal guardian. When the child turns 10 years old, he can get the right to operate the account himself. Let us tell you, for MIS account, you should have a savings account in the post office. You will have to provide Aadhar Card, PAN Card for ID proof.

Keep in mind 5 special things about the scheme

• You can also transfer MIS account from one post office to another.
• On completion of maturity i.e. five years, it can be extended for further 5 years.
• There is facility of nomination in MIS account.
• In MIS, two or three people can open a joint account. The income received from this account is given equally to every member.
• Joint account can be converted into single account at any time. Single account can also be converted into joint account. To make any change in the account, a joint application has to be given by all the account members.

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The sooner you start this, the less your tension will be for your children’s future. Let us tell you how you can make your child the owner of Rs 2 crore.

After all, who is not worried about the future of children? When they grow up, you have to start financial planning much in advance for everything from their education to marriage. Otherwise you will have to worry later. Imagine if you are told about such an investment scheme which can make children the owners of more than Rs 2 crore at the age of 21.

If you are a newly married couple or have just become parents. Then you can start this investment plan from the birth of the child. In 21 years, it will give you so much return that the child will have an amount of more than Rs 2.1 crore. Let’s understand the calculation

Deposit just Rs 10,000 every month

If you want your child to have more than Rs 2 crore at the age of 21, then you will have to invest Rs 10,000 every month in SIP. With this, you will be able to deposit Rs 25.20 lakh in the name of the child in 21 years. Now let us assume that you get 16 percent return on SIP. Then you will have an amount of Rs 2.06 crore after completion of 21 years.

Rs 25.20 lakh deposited in the name of the child will earn you Rs 1.81 crore in 21 years. After the child turns 21 years of age, this amount can be used for investment in the child’s education, marriage or business. By the way, let us tell you that ICICI Prudential Multi Asset Fund has given returns of up to 21%.

If you get only 12% interest

Let us assume that you did not get 16% interest and got only 12% interest in SIP. Even then you will not have to regret your investment. In that case also your child will have a return of Rs 88.66 lakh on an investment of Rs 25.20 lakh. He will have a total amount of Rs 1.13 crore.

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If you also want to secure the future of your child, want to deal with the responsibilities ranging from higher studies to marriage without any tension, then start financial planning with his birth. If you start investing even 5,000 rupees every month in his name, then by the time your child is 20 years old, you can easily create a fund of up to 50,000,00 for him. Know how?

Money will be made from SIP

In today’s time, SIP i.e. Systematic Investment Plan is very popular among the people. Through this you invest money in mutual funds. However, due to being linked to the market, it cannot be assured of fixed interest rates. But SIP is considered less risky than investing money directly in the market. Experts believe that in the long run, SIP works for wealth creation for you as it gets the benefit of compounding interest. Generally, an average return of up to 12 per cent is available in SIP. If your luck is good then the returns can be even better.

know the calculation

Suppose you start a monthly SIP of Rs 5,000 with the birth of a child and invest in it continuously for 20 years. In this case, your total investment in 20 years will be Rs 12,00,000, but according to 12 percent, you will get Rs 37,95,740 interest on this invested amount. In this way, in 20 years, including the invested amount and interest, you will get a total of Rs 49,95,740 i.e. around 50 lakhs.

On the other hand, if you continue this investment for 5 more years i.e. for 25 years, then you will get Rs 94,88,175. This is such an amount that you cannot get in any scheme. If you get a return of around 15 percent, then the profit can be even better. You can invest this amount anywhere from your child’s career to his marriage.

(Disclaimer: Investments in Mutual Funds are subject to market risks. Do your own research or consult your advisor before investing.)

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FD means Fixed Deposit, you will get this option in all the banks. But if you want, this time you can try Post Office FD instead of bank. Post Office FD is called Post Office Time Deposit. You get the option of FD for 1, 2, 3 and 5 years in the post office. If you deposit money in it for 10 years, then you can more than double your amount. At present, interest is being received at the rate of 7.5 per cent on 5-year FD.

Know how to make double more money

At present, interest is available on post office FD at the rate of 7.5 percent. Suppose you deposit Rs 5 lakh in the post office, then at the rate of 7.5 percent you will get interest of Rs 2,24,974 lakh on it. In this way, in 5 years your amount will become Rs 7,24,974. Now if you deposit it again for 5 more years, then this amount will mature to Rs 10,51,175, which is more than double.

Interest on FD of one to five years

If fixed for 1 year – 6.9% If
fixed for 2 years – 7.0% If
fixed for 3 years – 7.0% If
fixed for 5 years – 7.5%

The post Post Office’s great Plan! Deposit Rs 5 lakh for 10 years in this post office scheme, you will get Rs 10,51,175, which means more than double profit. first appeared on Rightsofemployees.com.

If you want to get good returns by investing and are looking for safe investment, then this news is for you. Actually, Saving Schemes of Post Office can be the right choice in this case, because investment in it is considered safe. Many schemes of Post Office are very popular among the people. One of these is Recurring Deposit Plan (Post Office Recurring Deposit) which gives excellent returns along with guaranteed security.

Government has increased the interest rate

Recently, the Central Government has increased the rate of interest received by the investors on this saving scheme of the post office by revising it. The government has increased the interest rate from 6.2 percent to 6.5 percent for the July-September quarter. That is, the interest rate of Post Office Recurring Deposit Scheme has been increased by 30 basis points. In such a situation, investing in this savings scheme is now proving to be even more profitable.

Investment can start from Rs 100.

Significantly, the central government revises the interest rates of its savings scheme on a quarterly basis. You can invest in Post Office’s Recurring Deposit Scheme for a period of one year, two years or more as per your convenience. The minimum age limit for taking this scheme has been set at 18 years, that is, anyone older than this can invest. Relatives can open it in the name of their minor children, otherwise facility has also been given to open joint account. By opening an account in this scheme, you can start investing with just Rs.100. This is where it can now be invested for 10 years.

You can deposit money for 10 years,

the money invested in this government scheme is completely safe and the interest is also better. A hefty fund can be accumulated by investing a fixed amount every month for 10 years. However, the interest rates of Post Office Recurring Deposit Scheme as well as other savings schemes are revised every three months, so they may increase or decrease. But if the current interest rate remains constant, then according to this, an investor can get Rs 8 lakh in 10 years by depositing Rs 5,000 every month.

This is the complete calculation of interest.

If you look at the calculation, if you deposit a fixed amount of Rs 5,000 every month in the post office’s recurring deposit account and continue this process for the whole 10 years, then at the current rate of 6.5 percent you will get on your deposit. 2.46 lakhs. At the same time, the total amount deposited by you will be 6 lakh rupees. Accordingly, you will get Rs 8.46 lakh after 10 years. Now in the meantime, if the government revises and increases the interest rates, then accordingly the interest you get will also increase and more money will come in hand.

Loan facility to the account holder

can be closed after 3 years of opening the account in Post Office Recurring Deposit Scheme. At the same time, after one year of starting the investment, up to 50 percent loan facility is also given in it. Simply put, if a person deposits the installments for 12 months after opening an account in this scheme, then on the basis of this one can get loan from banks. In this scheme, you can take half the amount as loan on your total deposit.

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How much is the fine?

According to Section 234F of the Income Tax Act, 1961, if you file a late ITR, a fine of up to Rs 5,000 will have to be paid to those earning more than Rs 5 lakh in a financial year, while those earning less than Rs 5 lakh will have to pay a fine of Rs 1,000. Will have to pay the fine. On the other hand, if you have any tax liability, interest will also have to be paid on it at the rate of one percent per month till the date of submission of ITR.

If someone wants to revise his return, then he does not have to pay any kind of penalty. However, if the tax officer detects any discrepancy, a penalty has to be paid.

There is no penalty for updating ITR . However, if any additional tax is created, the taxpayers have to deposit it under Section 140B of the Income Tax Act.

How to file?

Late ITR is filed like normal ITR. For this you have to go to the official website of Income Tax. You can also submit the revised return by visiting this website. Revised return has to be filed before the end of the assessment year.

To update the income tax return, you need to fill Form ITR-U. After this, you want to update the return of the assessment year. can update it.

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There has been a big change in the attitude of people regarding savings and investment, so now crores of people are investing in equity market and mutual funds in addition to traditional savings scheme for better returns. Generally, the returns available in mutual funds are higher than bank savings schemes. However, this return remains subject to market risk.

You must have often heard people saying that they have got good returns by investing in mutual funds. Now the question arises that can you also collect huge funds for the future with the help of mutual funds? Of course, you can do this but for this you have to invest in mutual funds with planning.

Investing in equity markets and mutual funds over the long term has been a profitable deal and the numbers prove it. You can earn up to Rs 2.75 crore through mutual funds in the long term by saving Rs 5,000 a month. Let’s know how?

According to the SIP calculator available on the website of The Association of Mutual Funds in India, investing Rs 5,000 per month in SIP will give you a return of up to Rs 2.5 crore after 30 years based on a potential return of 14% per annum, whereas during this period In this you will deposit only 18 lakh rupees. However, this is purely a potential return, as it is subject to market risk.

Disclaimer: Investment in Mutual Funds is subject to market risk therefore must take the help of a financial advisor before investing. The figures given here regarding the returns are for information only and reflect the possible returns. Investment without expert help can prove to be harmful and Rightsofemployees will not be responsible for the same.

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PPF Scheme is a best option for investment in today’s time. If you also invest money in the Public Provident Fund Scheme, then there is good news for you. In this scheme, you get the benefit of compounding interest from the government, but if you are confused that how much you should invest every month and on which you will get the benefit of interest. Come, let us tell you today, if you invest Rs 2000, 3000, 4000 and 5000 every month, then how much money will you get on maturity-

How much money will you get after depositing 2000 monthly?

If you deposit Rs 2000 in the PPF scheme, then in a year you will get around Rs 24,000. In this way, in about 15 years, your Rs 3,60,000 will be deposited. At the same time, in this you will get the benefit of interest at the rate of 7.1 percent. The amount of interest you will get will be Rs 2,90,913. At the same time, you will get a total of Rs 6,50,913 on maturity.

How much money will be received by depositing 3000 every month?

If any investor deposits Rs 3000, then according to this, in 12 months, you will deposit around Rs 36,000. If you invest in it continuously for 15 years, then Rs 5,40,000 will be deposited, in which you will get Rs 4,36,370 as interest. Wherein, maturity will get Rs 9,76,370.

How much money will be received on the investment of 4000?

If you invest 4000 every month, then in one year you will get around 48,000 rupees. If you invest this continuously for 15 years, then your total deposit amount will be Rs 7,20,000 and the interest amount will be around Rs 5,81,827. In this case you will get Rs 13,01,827 on maturity.

How much money will be received on the investment of 5000?

If any investor invests Rs 5,000 in PPF scheme, then around Rs 60,000 will be deposited in a whole year. After this, if you continue this investment for the next 15 years, then you will accumulate around Rs 9 lakh. If we talk about the amount of interest in this, according to the current interest rate, Rs 7,27,284 will be deposited. You will get around Rs 16,27,284 lakh on maturity.

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Today we are going to tell you about such a government scheme, in which you will get full 35 lakh rupees from the government. If you also want to become a millionaire without risk then this is a great plan for you. Post office and bank FDs are still considered the best option for investment.

What is the name of the scheme?

Let us tell you that the name of this post office scheme is Gram Suraksha Yojana, in which you get full 35 lakh rupees from the government. This scheme was started by India Post for the customers. This protection plan is one such option in which you can get good returns with low risk. In this scheme you have to deposit Rs 1500 every month.

There will be benefit of up to Rs 35 lakh

If you invest regularly in this scheme, then in the coming time you will get the benefit of Rs 31 lakh to Rs 35 lakh.

Know how to get benefit?

Suppose a person invests in this scheme at the age of 19 and buys a policy of Rs 10 lakh, then his monthly premium will be Rs 1515 for 55 years, Rs 1463 for 58 years and Rs 1411 for 60 years . The policy buyer will get Rs 31.60 lakh for 55 years, Rs 33.40 lakh for 58 years and Rs 34.60 lakh for 60 years on maturity.

Know the rules of investment

Any Indian citizen between the age of 19 to 55 years can invest in this scheme.

The minimum sum assured under this plan can range from Rs 10,000 to Rs 10 lakh.

The premium payment for this plan is monthly, quarterly, half-yearly or annually.

You can also take a loan on this scheme.

You can also surrender this scheme after 3 years of taking it.

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Policies are available for people of all age groups in LIC, in which you can collect big funds even with a little investment. One such scheme is LIC’s Jeevan Anand policy, in which you can deposit a corpus of Rs 25 lakh by saving just Rs 45 per day. Many types of benefits are also available in this policy. Let’s know about it in detail…

Thick fund at low premium

If you want to raise thick fund for yourself at low premium, then Jeevan Anand policy can prove to be a great option. In a way, it is similar to a term policy. You can pay premiums for as long as you have the policy. In this scheme, the policyholder gets not one but many maturity benefits. In this scheme of LIC, there is a sum assured of at least one lakh rupees, while no maximum limit has been fixed.

This is the math of Rs 45 to Rs 25 lakh.

In LIC Jeevan Anand Policy, you can get Rs 25 lakh by depositing around Rs 1358 every month. If you look at it per day, you will have to save Rs 45 everyday. You have to do these savings for the long term. Under this policy, if you invest for 35 years while saving Rs.45 daily, then after completion of maturity of this scheme, you will get an amount of Rs.25 lakhs. If you look at the amount saved by you on an annual basis, it will be around Rs 16,300.

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This much amount is received by adding bonus benefits.

If you invest Rs 16,300 every year in this LIC policy for 35 years, then you will invest a total deposit of Rs 5,70,500. Now according to the policy term, the Basic Sum Assured will be Rs 5 lakh, with which after the maturity period, you will be given a revision bonus of Rs 8.60 lakh and a final bonus of Rs 11.50 lakh. Bonus is given twice in LIC’s Jeevan Anand policy, but for this your policy must be of 15 years.

No tax exemption, but rider-death benefit

The policyholder taking the Life Insurance Corporation of India’s Jeevan Anand policy is not given the benefit of any kind of tax exemption under this plan. However, if you look at its benefits, you get four types of riders in it. These include Accidental Death and Disability Rider, Accident Benefit Rider, New Term Insurance Rider and New Critical Benefit Rider.

Only death benefit benefit has been added to this policy. That is, if the policy holder dies due to any reason, then the nominee will get 125% death benefit of the policy. On the other hand, if the policy holder dies before the maturity of the policy, then the nominee gets money equal to the time assured.

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It offers an annual interest rate of 7.1%. After maturity of 15 years, you will get tremendous returns on it. Anyway, the post office offers many types of saving schemes. Under this, you are given a safe and guaranteed return.

If you deposit your money under the PPF scheme in the post office, then under 80C you also get a tax deduction of up to Rs 1.5 lakh. Along with this, there will be no tax on interest income. In this scheme, you can deposit the deposit amount either in lump sum or in installments. If you deposit 5000 rupees every month under Post Office PPF, then you invest 60000 rupees in a year.

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In this context, you deposit a total of 9 lakh rupees for 15 years. Adding interest of 7.1% per annum on this, then the investment amount will increase to Rs 16,27,284 on maturity of 15 years. That is, during the period of 15 years, Rs 7,27,284 was earned from interest. There is a facility to extend this account further in the bracket of 5-5 years after maturity. Security is guaranteed on every penny you deposit in the post office.

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Through this policy, you can save a good amount of money for the future. Two bonuses are also available in this policy, which are available at different times. The most special thing about this plan is that in this you can create a fund of 25 lakhs by saving not much but very little money. The premium of Jeevan Anand policy is the same as that of term policy, you can invest only till the time the policy is in force.

By the way, many options are available in the market to make big funds by investing less. But before investing in any scheme, you must review all of them. It is necessary to do this because some schemes are such that not only does your money grow over time, but you also get some additional benefits.

How much to invest

If you take this policy, then you will have to invest Rs 1358 every month or Rs 45 every day. With this small savings, you can create a fund of Rs 25 lakh on maturity. For this you have to invest in long term. For this, you can choose the maturity period up to 35 years. Apart from depositing Rs 1358 every month or Rs 45 every day, you can also deposit Rs 16,300 annually. By depositing this amount in this scheme for 35 years, you will get Rs 25 lakh on maturity.

Will get many other benefits

Investors also get many other benefits in LIC Jeevan Anand policy. These include insurance for accidental death, disability, term assurance and critical illness cover among others. You can increase the sum assured at the time of accident or death. At present, the minimum sum assured in LIC scheme is Rs 1 lakh. However, investors can increase their sum assured and can also increase the claim amount. LIC pays 125% of the sum assured in case of death of the investor.

Investing is very easy

Investing in this policy is very easy. If you also want to invest in this scheme, then you must have government documents. If you have Aadhaar card and bank account, then you can apply in this scheme without any tension.

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Now taxpayers can do the compliance of purchase or construction till March 31, 2023. However, the due date of December 31, 2022 (FY 2021-22) for filing delayed/revised returns has passed. In such a situation, there is confusion among some taxpayers about taking its benefit.

Why issued this circular

In view of the turmoil caused by the Covid epidemic, the CBDT had given time till 30 September 2021 to those taxpayers who could not fulfill the said condition between 1 April 2021 and 29 September. However, the issue of inadequacy of the extended time limit was raised before the CBDT.

What are the exceptions

Under the Income Tax Act , a taxpayer is eligible to claim exemption from tax on income or gains arising on sale or transfer of long term capital assets such as house, agricultural land, industrial assets or land or building etc. For this, under section 54 to 54GB of Income Tax Act, the amount related to capital gain has to be used. The payment deadline for required compliance ranges from six months to three years.

Circular effect

For example, if a taxpayer claims deduction under section 54 for FY 2018-19 on transfer of his house for construction of another house on February 1, 2019, he can claim deduction for three years i.e. up to January 31, 2022. get time. Now the taxpayer can take advantage of this first circular of 2023, if he utilizes his remaining capital gains by March 31, 2023. Similarly, in case of transfer of an agricultural land on January 5, 2020, exemption can be claimed till January 4, 2022 (i.e. two years). Thus, he is now allowed to fulfill the required condition till March 31, 2023.

In case of non-compliance by the extended deadline, the taxpayer will have to pay capital gains tax in the current financial year 2022-23.

Who will not get the benefit of this circular

If the date of completion of compliance is not expiring between 1 April 2021 to 28 February 2022, then the taxpayer cannot claim the benefit till the extended period.

Taxpayer cannot claim benefit in the extended timeline for the purpose of crediting unutilized amount to Capital Gain Account , even if the due date for completion of compliance falls during the said period. For example, taxpayers were given time till July 31, 2022, to deposit unutilized capital gains on long-term capital assets sold during FY 2021-22, which were not to be audited. In such a situation, the benefit cannot be claimed in the extended date, because the date for filing delayed or revised returns for the financial year 2021-22 has passed on 31 December 2022.

This condition is also applicable in case where exemption under section 54 EC has been missed for long term assets transferred during the financial year 2020-21 or 2021-22 where the amount of investment after the date of transfer The period of six months provided for is falling between 1st April, 2021 to 28th February, 2022, as the return filing date for both the financial years has passed.

It appears that the CBDT has deliberately issued the circular after the due date for filing belated returns or revised returns for FY 2021-22 has passed, so that only certain categories of taxpayers can avail the benefit of claiming the exemption.

The post Income Tax department has given relief to taxpayers claiming exemption from long term capital gains on January 6, 2023 first appeared on Rightsofemployees.com.

The Public Provident Fund of the Post Office gives you a chance to become a millionaire. For this you just have to invest Rs 417 everyday. Although the maturity period of this account is 15 years, but you can extend it twice for 5-5 years. Along with this, you also get tax benefit in this plan. At the same time, the most important thing is that you get 7.1 percent interest annually in this plan and which also gives you the benefit of compound interest every year. Let us also tell you how this scheme can make you a millionaire.

Know Post Office PPF Account Details

If you invest for 15 years i.e. till maturity and deposit a maximum of Rs 1.5 lakh annually i.e. Rs 12500 in a month and Rs 417 in a day, then your total investment will become 22.50 lakhs. At the time of maturity, you will also get the benefit of compounding with an annual interest of 7.1 percent. In this, at the time of maturity, you will get Rs 18.18 lakh as interest. That is, you will get a total of 40.68 lakh rupees.

How will you become a millionaire?

On the other hand, if you want to become a millionaire from this scheme, then you can extend your investment by this scheme twice for 5-5 times after 15 years. By investing Rs 1.5 lakh annually, your total investment will be Rs 37.50 lakh. After maturity, you will get Rs 65.58 lakh with 7.1 percent interest rate. That is, after 25 years your total fund will be 1.03 crores.

Who can open PPF account 

Any resident including salaried, self-employed, pensioners etc. can open an account in the PPF of the post office. 
Only one person can open this account.
You cannot open a joint account in this. 
Minor PPF account can be opened in the post office by the parent/guardian on behalf of the minor child. 
Non-resident Indians cannot open an account in it. If a resident Indian becomes an NRI before the maturity of the PPF account, he can continue to operate the account till maturity. 

Required documents of post office PPF account 

Identity Proof – Voter ID, Passport, Driving License, Aadhar Card
Address Proof – Voter ID, Passport, Driving License, Aadhar Card
PAN Card
Passport Size Photograph
Enrollment Form – Form E

Features of Post Office PPF Account

1. The maximum deposit allowed in a PPF account during a financial year is Rs 1.5 lakh.
2. The number of deposits in Post Office PPF is limited to 12 per annum.
3. PPF is an EEE investment i.e. the principal amount invested, interest earned and maturity amount are all tax-free.
4. The minimum annual investment required to keep the account active is Rs.500.
5. Interest on Post Office PPF account is compounded annually and paid on 31st March every year.

The post Post Office Bumper Plan: Just deposit Rs 417 in this government scheme, you will get 1 crore on maturity, see details first appeared on Rightsofemployees.com.

Insurance cover is available up to 80 years Six schemes have been introduced by the post office under Rural Postal Life Insurance (RPLI). Today we will know in detail about one of these Whole Life Assurance. It is also called village security. According to the information available on the India Post website, in this scheme the individual remains insured till the age of 80 years. If he remains alive even after that, then he will get the benefit of his maturity. If he dies in between then the nominee will get the death benefit.

Maximum Sum Assured 10 Lakh

The minimum age limit to take this policy is 19 years and the maximum age limit is 55 years. The maximum sum assured can be 10 lakhs. Loan facility is available after 4 years. There is also a facility to surrender the policy after three years. Bonus will not be available if the policy is surrendered before five years.

50 rupees have to be deposited daily

According to the information available on the India Post mobile app, if the policyholder is 20 years old and enrolls for Whole Life Assurance, the monthly premium for 50 years of maturity will be Rs 1672. The monthly premium for 55 years will be Rs 1568, for 58 years maturity the premium will be Rs 1515 and for 60 years maturity the monthly premium will be Rs 1463. Suppose the policyholder decides to mature the policy at the age of 60 years, then he will have to pay a monthly premium of Rs.1463 for the next 40 years. The daily premium will be around Rs 50.

Know how you will get 34 lakhs?

At present, the annual bonus for this policy is Rs 60 per 1000 sum assured. In such a situation, the annual bonus on the sum assured of 10 lakhs will be 60 thousand rupees. On getting the bonus evenly for the next 40 years, the total bonus amount will be Rs 24 lakh. Maturity This amount will be Rs 34 lakhs which will include the sum assured of 10 lakhs.

The post Post Office: Deposit only 50 rupees daily in this insurance policy of Post Office, 34 lakhs will be available on maturity first appeared on Rightsofemployees.com.