Mother's Day 2024: Public Provident Fund (PPF) among six investment options for single mothers livemint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livemint.com Daily Mail and Mail on Sunday newspapers.
Income Tax Returns 2024: Senior and super senior citizens are eligible to avail of numerous tax benefits as offered by Income Tax Act, 1961. Some of the prominent ones are the Senior Citizens Savings Scheme, National Pension Scheme, senior citizen bank FDs, ELSS, among others.
Hemant Sood, MD of Findoc, recommends the top investment instruments for senior citizens as NPS, Atal Pension Yojana, and Pradhan Mantri Vaya Vandana Yojana. These schemes offer low-risk or zero-risk investments backed by the government of India. The returns range from 6-7%, with regular interest payments. However, the regular monthly income from these schemes is taxable. Senior citizens should consider tax-efficient investment instruments, such as those linked with insurance, for long-term schemes.
I think the range depends from person to person and what that person feels that the contingency fund should be so there cannot be a fixed range. But anything which you think you need in a contingency fund which you think is needed for a critical illness or you need for a particular thing in a family.