Post Office: Investment can be made in many schemes of post office. One of these schemes is Mahila Samman Bachat Patra Yojana. This is a small savings scheme. It was introduced in Budget 2023. This scheme has been started from April 2023 to March 2025.
Tax is imposed on the interest received on this scheme, that is, it is not tax free. This scheme is available in all the post offices of the country.
Who can invest
As the name of this scheme suggests, this saving scheme has been started for women. If you also want to invest in this scheme, then let us tell you that women can invest in it for themselves or for their minor daughter. Apart from this, the husband can invest for his wife.
Is there tax benefit on the scheme?
In this scheme, the benefit of tax benefit is given under 80C of Income Tax Act 1961 (Income Tax Act 1961 80C). However, tax has to be paid on the interest received in the scheme. This means that there is no tax benefit available on the interest received on this scheme. TDS is deducted on interest.
This scheme works like FD. For example, if you invest in this scheme for 2 years, you will get Rs 2.32 lakh after maturity.
You can open this scheme by going to your nearest post office. For this, you will have to upload KYC documents i.e. Aadhaar Card, PAN Card along with the form.
Now the benefits of this scheme are available in many banks of the country.
How much can you invest?
A minimum investment of up to Rs 1,000 has to be made in this scheme. You can invest only up to a maximum of Rs 2 lakh. If you already have a women’s savings account and you want to open another account, then there should be a gap of 3 months between those two accounts.
