India still does not have a "one retirement account" concept, with the intended money distributed across various schemes. Pension fund managers are underlining NPS as the preferred way ahead
One of the key points to note while accounting for these investments made from April to July is that a deduction once claimed in FY20 on an investment made, cannot be claimed again for FY21
Individuals and HUFs can opt for a new tax regime from FY 2020-21 by giving up about 70 deductions/exemptions
As cash is priority, you can delay payment. But there will be loss in interest income
The deadline to make deposits in PPF and Sukanya Samriddhi Yojana for the financial year 2019-20 (FY20) has been extended till June 30 this year
Ordinarily people derive a lot of comfort from investing into PPF, and rightly so
The postal authorities assumed that Mehta was operating an individual account and accused him of trying to earn tax-free returns
The Public Provident Fund (PPF) is one of the best methods to save on taxes and enjoy other long-term benefits
Bill also proposes permitting depositor to close PPF account before five years in exigencies
Getting locked into instruments before the new regime kicks in would be a good strategy
Lenders also foresee a higher flow of savings into capital markets through mutual funds and other instruments
Move creates environment for rate cut by RBI
Government, to align small saving schemes' interest rates closer to market rates will revise it on quarterly basis