I want to know that what is best investment option among FD in Bank, Post office, Monthly income Scheme , Kishan Vikas Patra and PPF and any other like that and why ?
# Maximum Limit of Investment
# Tax liablility
# if someone deposit in MIS Rs. 490000 in 10 seperate MIS passbook of Rs 49000 each in single name of Mr. x, my question is whether Post office deduct TDS on this investment.
Well, Investment in PPF,No Alternative. ( No Tax,No Limit)
and Other Than PPF U also Invest In FD/NSC.also (Better Than KVP,MIS)
in Second Case , Post Office Will Not Deduct TDS.
| Originally posted by :vikas | ||
| " | I want to know that what is best investment option among FD in Bank, Post office, Monthly income Scheme , Kishan Vikas Patra and PPF and any other like that and why ? # Maximum Limit of Investment # Tax liablility # if someone deposit in MIS Rs. 490000 in 10 seperate MIS passbook of Rs 49000 each in single name of Mr. x, my question is whether Post office deduct TDS on this investment. |
" |
what s rates of return in PPF , Post Office FD and MIS today
PPF is 8% Compounded having lock in of 15 Years
Post Office FD No idea
Post office MIS now I think 8% +5% Bonus after 5 Years .If you close Your POMIS before maturity Bonus amount is withdrawn
after expiration of Locking period of above said investment, is that amount tax free or tax exempted or taxable
POMIS doesnt have tax benefits and PPF absolutely tax free after maturity court also cannot even attach this money against any legal dues
what is locking period..?
I guess Punit its the time period for which the investment cant be withdrawn....
agree with hareesh
yes hareesh is right
an assessee can invest in above mentioned funds at any amount but he will get maximum of RS. 100000 deduction under 80c,80cc,80ccc
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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