(This article is meant for informational purposes only and must not be considered a substitute for advice provided by qualified professionals.)
This scheme is specially designed for women. There is no upper age limit. It means older women can invest in this scheme. The returns are fully taxable.
National Savings Time Deposit schemes are offered by the Post Office. You will get a good return from the scheme. This scheme is also not included in the Section 80C of the Income Tax Act 1961.
This scheme comes with no limit for maximum investment. But keep in mind that the returns are fully taxable. You have to pay an amount.
Kisan Vikas Patra is one of the investment scheme by Post Office. This plan is not included under the tax benefit of Section 80C. You have to pay tax on the return.
The monthly savings scheme's maximum deposit limit has been raised from Rs. 4.5 lakh to Rs. 9 lakh for single accounts and from Rs. 9 lakh to Rs. 15 lakh for joint accounts.
As we all know TDS is a tax that is deducted from the source. In these schemes also, you will get the amount after getting TDS.
You have to pay tax on the interest earned from these post office schemes. It doesn't fall under Section 80C of the Income Tax Act, of 1961.