Post Office Schemes: In many Post Office schemes, the benefit of tax exemption under Section 80C of Income Tax is not available.
Post Office: By investing in some post office schemes, you do not get exemption of Rs 1.50 lakh under Section 80C of Income Tax.
Post Office Schemes: Even today people like to invest heavily in Post Office Schemes because in many small savings schemes, a rebate of Rs 1.50 lakh is available under Section 80C of Income Tax. But we are telling you about those schemes in which you are not getting tax exemption under Section 80C.
Mahila Samman Saving Certificate is a special scheme launched for women. By investing Rs 2 lakh in this, you get the benefit of 7.5 percent interest on the deposited amount in two years. By investing under this scheme, you do not get exemption of Rs 1.5 lakh under Section 80C of Income Tax.
Under the National Savings Time Deposit Scheme, you do not get the benefit of tax exemption under Section 80C of Income Tax on investments made for 1 to 3 years. Whereas on investment of five years, you get a rebate of Rs 1.50 lakh under 80C.
If you invest in National Savings Recurring Deposit Account (RD) for five years, you do not get the benefit of exemption under Section 80C of Income Tax. Under the scheme, 6.7 percent interest is being offered on the deposited amount.
There is no exemption of Rs 1.50 lakh under Section 80C of Income Tax on investment under Post Office Monthly Income Scheme.
Even if you invest under Kisan Vikas Patra Scheme, you do not get the benefit of tax exemption under Section 80C of Income Tax. Under the scheme, the benefit of 7.50 percent interest rate is available on the amount invested.
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