Post Office Savings Account: A large number of people are investing money through various schemes of the post office and making huge profits through it. Did you know that if you open a savings account at the post office, you will be able to save Rs 13,500 by tax? If you wish, you can save 17 thousand rupees in a year from a post office savings account. If you deposit money in a post office savings account, tell us how much interest you get, as well as how you can save up to Rs 17,000 in taxes.
According to investment experts, the bank offers 3% interest on a savings account while the post office savings account gets 4% interest. That is, about 1/3 of the interest is available at the post office. Also, when you go to file an ITR, and then have a joint account, you will be able to deduct 17,000 tax in the Post Office Savings Account.
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In such a situation, investors who want to take less risk can take advantage of an additional interest of 33 per cent on a post office savings account. You will also be able to save up to 35 per cent through tax deduction.
Exemptions are available under what rules
On tax exemption, investment expert Balwant Jain explains, “The notification dated June 9, 1989 can be tax deductible under Rule 10 (15) of the Income Tax. Amended in this notification, the Post Office Savings Account will be charged at Rs 3,500 in individual cases. And Rs.7,000 in joint account. May be exempt. “Balwant Jain says there is an additional exemption of Rs. 3,500. Rs. 10,000 can be claimed under ITR. Section 80 TTA of Income Tax.
At the same time, investment expert Jitendra Solanki said, ‘Savings account holders have to enter this income when submitting ITR. If a tax deduction is announced.
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