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- Tax Saving Investment Plans 31st March; PPF | Sukanya Samriddhi
New Delhi1 hour ago
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The last month of the financial year 2023-24 ie March has started. This month you have many important tasks to complete. One of these tasks is depositing minimum amount in Sukanya and PPF. Apart from this, if you want to invest for income tax exemption, then you will have to invest by 31 March.
We tell you about 4 such tasks that you must complete this month…
1. Minimum amount to be deposited in Sukanya and PPF
Make minimum investment in Public Provident Fund (PPF) and Sukanya Samriddhi Yojana (SSY) accounts to keep them active. If money is not deposited in PPF and SSY by March 31, 2024, these accounts may become inactive (closed). You will have to pay a fine to activate it again.
You have to keep the minimum investment in these plans so that your account can be known as active. The minimum deposit for PPF account holders is Rs 500, which means you have to invest at least Rs 500 in a financial year. If you have an account in Sukanya Samriddhi Yojana, then you have to deposit at least Rs 250 every financial year. Click here to read the full news
2. Tax Savings Investment
If you have not yet invested tax for the 2022-23 financial year, then do so soon. You can avail Section 80C tax exemption by investing in PPF, Sukanya Samriddhi Yojana, 5 year FD and ELSS etc. For this, you will have to invest in this scheme until 31 March.
Under Section 80C of the Income Tax Act, you can claim a deduction of Rs 1.5 lakh from your total income. Understand it in simple language, you can reduce up to Rs 1,50,000 from your total taxable income through Section 80C.
3. Get KYC done for Fastag
If you haven’t updated your car’s Fastag KYC from the bank, do it today. Because after 31st, banks will deactivate or blacklist Fastag without KYC. After this, no payment will be made even though there is a Fastag balance.
NHAI has asked Fastag customers to complete KYC process for Fastag as per Reserve Bank of India (RBI) rules, so that Fastag facility can be provided without any hassle.
4. Invest in SBI’s Amrit Kalash Scheme
State Bank of India (SBI) Amrit Kalash special fixed deposit scheme will end on March 31 this month. Under this, 7.6% annual interest is given to the elderly and 7.1% to others. In this fixed deposit scheme one has to invest for 400 days. Click here to read the full news
