MSSC Post Office Scheme: Mahila Samman Savings Certificate (MSSC) scheme offers 7.5% annual interest for women. You can get tax exemption under 80C by investing before March 31. You will have to go to the post office to open an account.
If you are looking for a good option to save tax, then you should keep money in your wife’s name. You may not believe it, but you will be able to take deduction under 80C on the interest rate earned on it. Your wife can save you from tax. You have only 2 months left to do that. If you do not do this before April 1, then the tax money can be deducted from your account. Let’s know in detail what this scheme is and how you get tax benefits.
If you are looking for an FD or deposit scheme where your money will not be locked for long and will give good returns, then the Mahila Samman Savings Certificate (MSSC) scheme of the Post Office is right for you. By investing in the name of your wife, sister, mother or daughter, you can get double the profit in two years.
What exactly is the MSSC scheme?
Mahila Samman Savings Certificate Scheme is a scheme launched by the government to encourage women’s savings. This scheme offers 7.5% annual interest, which is not easily available on two-year FDs. Up to Rs 2 lakh can be invested in this.
How much rupees to invest?
- By investing Rs. 2,00,000: You will get Rs. 2,32,044 with interest in two years.
- By investing Rs. 1,50,000: You will get Rs. 1,74,033 in two years.
- By investing Rs. 1,00,000: You will get Rs. 1,16,022 in two years.
- By investing Rs 50,000: You will get Rs 58,011 in two years.
How long can investments be made?
The last date to invest is March 31. Therefore, it is important to invest before April 1.
How to open an MSSC account?
To start Mahila Samman Yojana , it is necessary to open an account in the post office . For this, you will first have to open an account in the post office. You will have to go to the nearest branch offline and work. Let’s see what documents are required for this.
- Aadhar card
- PAN card
- Color photograph
What are the withdrawal conditions?
Women or girls can participate in this scheme without any age restriction. Parents or guardians can open an account for a minor girl. Mahila Samman Yojana matures in 2 years. There is a facility to withdraw up to 40% of the amount after 1 year. For example, if Rs 2 lakh is invested, then Rs 80,000 can be withdrawn after 1 year.
Tax exemption will also be available
The government gives a rebate of up to Rs 40,000 on the interest rate received from this scheme in a financial year. However, for this you have to opt for the old tax system. However, there is no exemption for this in the new tax system. Senior citizens are given this exemption of up to Rs 50,000 in a financial year. According to the old tax system, you can take tax exemption under 80C.
