vikas (accountant) (40 Points)
09 December 2009I 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.
CA Ayush Agarwal
(Kolkata-Pune-Mumbai)
(27199 Points)
Replied 09 December 2009
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.
vikas
(accountant)
(40 Points)
Replied 09 December 2009
| 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
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 09 December 2009
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Post office MIS now I think 8% +5% Bonus after 5 Years .If you close Your POMIS before maturity Bonus amount is withdrawn
vikas
(accountant)
(40 Points)
Replied 09 December 2009
after expiration of Locking period of above said investment, is that amount tax free or tax exempted or taxable
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 09 December 2009
POMIS doesnt have tax benefits and PPF absolutely tax free after maturity court also cannot even attach this money against any legal dues
Hareesh H Sharma
(Cleared IPCC..now article)
(894 Points)
Replied 09 December 2009
I guess Punit its the time period for which the investment cant be withdrawn....
| Originally posted by :AYUSH AGRAWAL | ||
| " | 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. |
" |
BIJAY KUMAR RUNGTA
(CA FINAL STUDENT)
(85 Points)
Replied 15 December 2009
an assessee can invest in above mentioned funds at any amount but he will get maximum of RS. 100000 deduction under 80c,80cc,80ccc
CAclubindia
