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Tips to save Income tax in FY 2021-22

Tips to save Income tax in FY 2021-22
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Punjab s pension predicament - Newspaper

The assets of the Punjab Pension Fund (PPF) are estimated to grow to Rs84.7 billion at the end of the present fiscal year of 2020-21. The government, according to the provincial budget documents, has contributed Rs38.1bn into the fund in 13 years while the remaining Rs46.6bn has been earned through its investments. The budget documents show the fund has earned a ‘reasonable’ real rate of return of 4.26 per cent per annum since its inception in 2008-09, illustrating the success of its investment strategy. “The investment strategy followed (by the PPF) over the years has worked well. The Pension Fund continues to earn an attractive real rate of return because of its high yielding portfolio of federal government debt like Pakistan Investment Bonds, Term Finance Certificates and National Saving Schemes. The fund’s equity portfolio has also posted a healthy return of 28.8pc during the outgoing financial year,” the documents say.

Profit rates on savings schemes raised - Newspaper

ISLAMABAD: The Central Directorate of National Saving (CDNS) on Thursday slightly increased profit rates on a three savings instruments with immediate effect. According to a notification, the return on 10-year defence savings certificates has been increased by 0.06 percentage points to 9.35pc from existing rate of 9.29pc. Likewise, the return on five-year regular income certificates was jacked up by 0.12 percentage points to 8.76pc from existing rate of 8.64pc. Similarly, the rate of return on six-month savings certificates has been enhanced by 0.06 percentage points to 7.20pc instead of 7.14pc. On the other hand, return on all other products including Special Saving Certificates (SSC), Short-Term Saving Certificates (STSC), Saving Accounts, Pension Behbood Accounts, Special Savings Accounts and Shuhada Family Welfare Accounts would remain unchanged.

Profit rates on saving schemes revised

Daily Times June 18, 2021 The Ministry of Finance has revised profit rates on various National Savings’ schemes. According to a notification issued on Thursday, the new profit rates will be applicable immediately. The profit rate on 10-year Defence Savings Certificate has been fixed at 9.35 percent, Regular Income Certificate at 8.76 percent, and 6-month Short-Term Savings Certificate at 7.20 percent. Whereas, the profit rate on Pensioners Benefit Account, Shuhada Welfare Account, Special Savings Certificates, Behbood Savings Certificate and saving accounts will remain unchanged, the notification said. Earlier in May, the government made adjustments to returns on almost all national savings instruments with immediate effect. According to notification issued by the Ministry of Finance, the return on Shuhada’s Family Welfare Accounts and Pensioners’ Benefit Accounts had been reduced from 11.52pc to Rs11.04pc with effect from May 19, 2021. Likewise, the profit payable on Bahbood

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