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Be an early bird to save on taxes
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The earlier the better it is for investing in tax-saving instruments
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The earlier the better it is for investing in tax-saving instruments
You would be thinking, we just got over one tax ‘season’ viz. March 2021. Why talk of the next season right now? Well, the earlier the better. You get more time to plan, execute and revise your plan.
It is a mindset that when we have a deadline for, say, submission of a form or filing a tax return, we take the last date as ‘the’ date for doing it. The fact is, time is up to the last date and delay is not desirable unless there is a reason.
Government withdraws interest rate cut on small savings
April 01, 2021
Rates as on March 31 to continue for April-June quarter
Within 12 hours of taking decision regarding rate cut reduction on small savings, the Finance Ministry on Thursday withdrew the order. This means interest rates on various small saving schemes such as National Saving Certificates (NSC), Public Provident Fund (PPF) will continue for at least three more months starting April 1.
On Wednesday, the Ministry issued an office memorandum effecting cut in the range of 50 basis points to 90 basis points. This was one of the biggest reductions after the interest rate unchanged for longest period.
Government Makes Ambiguous Decision to Withdraw Small Savings Scheme Order: Here s What it Means for the Middle-class By Rajan Sarma, Online Content Writer, SiliconIndia | Thursday, 01 April 2021, 14:16 Hrs Late evening on Wednesday, the government had announced a significant cut on interest rates pertaining to small saving schemes for the three months of April, May and June. The order included interest cut on senior citizen saving schemes, National saving certificates were also cut by 90 basis point to 6.5 percent and 5.9 percent. And, when it comes to Public Provident Funds (PFFs) – one of the most preferred tax saving and investment option among the Indians, interest rates were cut by 70 basis points to 6.4 percent.