In less than 24 hours, Centre withdraws order cutting interest rates on small savings schemes
In less than 24 hours, Centre withdraws order cutting interest rates on small savings schemes
On Wednesday, the Finance Ministry had announced a sharp cut in interest rates for small savings schemes for the first quarter of the financial year 2021-22. This order has now been withdrawn.
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UPDATED: April 1, 2021 19:32 IST
The Centre on Thursday withdrew its order cutting interest rates for small savings schemes for Q1 of FY2021-22 (Photo Credits: Pixabay)
HIGHLIGHTS
Interest rates of small savings schemes of GOI shall continue to be at rates that prevailed as of March 2021: FM
Check interest rates on small savings schemes like PPF, NSC
Check interest rates on small savings schemes like PPF, NSC
In a tweet, Finance Minister Nirmala Sitharaman said the interest rates of small savings schemes shall continue to remain unchanged from the last quarter of 2020-21 or the rates that prevailed as of March 2021. Here is a list of interest rates that will continue to apply to various small savings schemes:
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UPDATED: April 1, 2021 14:01 IST
In a major relief to citizens, the government has rolled back sharp interest rate cuts on small savings schemes. (Photo: Reuters/Representational image)
The government on Thursday rolled back sharp interest rate cuts on small savings schemes less than 24 hours after the Ministry of Finance announced new rates for the first quarter of 2021-22.
Updated Feb 27, 2021 | 05:58 IST
Section 80C of the Income Tax Act includes various investments and expenses you can claim deductions on – up to the limit of Rs. 1.5 lakh in a financial year 5 tax saving schemes with guaranteed returns up to 7.6%
New Delhi: Tax planning is extremely important and the best time to start planning your tax-saving investments is at the beginning of the financial year. Most taxpayers procrastinate till the last quarter of the year, resulting in hurried decisions. Instead, if you plan at the start of the year, your investments can compound and help you achieve long-term goals. The most popular tax-saving options available to individuals and HUFs in India are under Section 80C of the Income Tax Act.