Sunday, April 18, 2010

Post Office Investment

Post Office Investment

Various small savings schemes are available to individual tax-payer. In the recent past the schemes of investment available from the Post office have great response from the Investors. The main reason of investment in various Postal; schemes is because of the safety factor. All investments in various postal instruments are fully safe and secured.

The investment can be made with the Post Office either in the Post office Savings Bank Account or in the Public Provident Fund Account. Similarly investment can be made by buying Kisan Vikas Patra . Like wise, an individual investor can open Post Office Time Deposit account or 5-Years Post Office Recurring Deposit Account. The entire bank interest from P.O savings Bank account is fully exempt from tax. The special features of the Post Office Schemes are that the investment in five year time in an account under the post Official Time Deposit Rules, 1981 would qualify for tax deduction under Section 80C of the Income Tax Act, 1961. Similarly, the senior citizens saving scheme would also qulify for tax deduction under Section 80C.

No comments:

Post a Comment