In the era of Coronavirus Pandemic (COVID-19 Pandemic), a person is understanding the importance of every savings. Especially for such investors who like to make small savings. It is most important for them that they should invest money in such a place where there is a guaranteed return in a given time and maximum return will be available in the least amount of money. If you are looking for a savings scheme that gives good returns and is tax-free investment, as well as very low risk, then you should go for government schemes. The investments made in these not only get good returns with guarantee, but also you do not have any risk. Today we are telling you about some such government schemes, in which you will get many benefits by investing. Returns will also be available, there will be benefit in tax and there will be no risk.
Investing for tax saving is a part of your personal finance. Many people invest towards the end of the year to save tax. The first government scheme for tax saving is:
1. Government Securities
- Investors investing in government securities get a guarantee from the central or state government. Therefore, the risk on their investment is completely eliminated and returns are also neutralized by market volatility.
- To meet its expenditure, the government takes loans from RBI or banks by issuing securities and sends securities from banks to investors.
- Till now retail investors were not allowed to invest directly in government securities but RBI has allowed retail investors to invest money directly in government securities through gilt account. At present, these securities are getting maximum interest rate of 4.51 per cent per annum.
- There is a facility to invest in government securities from 91 days to 40 years. In such a situation, you get the facility of investment up to 4 times more than a bank FD. If you compare the returns on government securities and FDs of 10 years now, then on FD where the annual return of 5.40 percent is given. On the other hand, securities will give you a return of 5.80%.
- Apart from this, banks take a maximum guarantee of only 5 lakhs on FD, whereas the entire amount invested in government securities is guaranteed by the government, which means if an investor is looking for a safe investment option for 20, 30 or 40 years. If so, the only remedy is available in the form of securities.
- Investors get returns on these in two ways. One, the interest rate is fixed annually. For example, on 10 years investment, 5.80 percent interest will be available every year. The same few securities are issued with a coupon, that is, if a security of Rs 100 is issued on a coupon of Rs 4, then you will get Rs 96. But if sold on maturity, you will get a price of Rs 100 only. In this way 4 percent return will be given.
2. Sovereign Gold Bond
The Reserve Bank of India (RBI) issues Sovereign Gold Bonds on behalf of the Government of India. Gold bonds are issued by the Reserve Bank on a gram-wise basis. Investors can invest money in it and can redeem it after maturity.
Here are the benefits of investing
- It has a guaranteed return of 2.50 per cent per annum.
- It is completely safe and has no storage hassle like physical gold.
- These can be traded on the exchange.
- Like physical gold, these do not attract any GST or making charges.
- These can be used as collateral for loans.
- There is no capital gains tax on redeeming them.
- The investor must have a PAN with every SGB application.
- You can buy gold bonds online. Apart from this, it can also be bought through banks, Stock Holding Corporation of India Limited (SHCIL), select post offices and stock exchanges like NSE and BSE. They are not sold in Small Finance Banks and Payment Banks.
3. Atal Pension Yojana
In Atal Pension Yojana, not only can you be entitled to more pension every month by depositing less amount, but you can also get the benefit of it to your family in case of untimely death. The age of the person to take advantage of Atal Pension Yojana should be between 18 to 40 years. You have to pay very low premium for Atal Pension Yojana.
Benefits of the plan
1. Under this scheme, if the investor dies, then his nominee will get 50 percent pension.
2. In this scheme, according to different age and pension slab, he has to make partial contribution. If someone joins this scheme in 18 years, then he has to invest from Rs 42 to Rs 210 per month. At the same time, if someone applies at the age of 40, then he has to invest Rs 291 to Rs 1,454 per month. In this, money has to be deposited regularly till the age of 60 years.
On attaining the age of 3.60, every month from 1 thousand to 5 thousand rupees will be given as pension. The more money the subscriber deposits, the more pension he will get after retirement. The special feature of the scheme is that you will also get tax exemption up to Rs 1.5 lakh under section 80C.
4. Under Atal Pension Yojana, investors can invest monthly, quarterly or semi-annually i.e. over a period of 6 months.
5. It also has the facility of auto-debit. That is, the fixed amount will be automatically deducted from your account and deposited in your pension account.
6. You also get tax exemption under section 80C of the Income Tax Act on investment in this.
4. National Pension Scheme
The National Pension Scheme (NPS) was launched in January 2004 for government employees. It was opened to all categories of people in 2009. Any individual can contribute regularly to the pension account during his/her working life. He can also withdraw a part of the accumulated corpus in one go and use the remaining amount to get regular income after retirement. The NPS account grows with the individual’s investment and returns on it. Any Indian citizen resident or non-resident can invest in this scheme. A person of 18-60 years can invest in this scheme. The government has increased the exemption limit for payment on final withdrawal from NPS from 40 per cent to 60 per cent. There is no tax on the amount invested under NPS, but the annuity you get from it is definitely taxable.
5. Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana is a better investment option to secure the golden future of the daughter. While the investment made under this scheme is risk-free on the one hand, on the other hand it also gives better returns. Under this scheme, the account of a girl child below the age of 10 years can be opened, which is easily opened in the post office or any big bank. Although the account of maximum two girl children can be opened under the scheme, but in some special cases, the account of 3 girl child can also be opened under the scheme. Under the new rule, Sukanya account can also be opened in the name of the adopted daughter. Sukanya Samriddhi account can be opened with a minimum deposit of Rs 250 and in a financial year the minimum deposit has been fixed at Rs 250 and maximum Rs 1.5 lakh.
6. Pradhan Mantri Vaya Vandana Yojana
Pradhan Mantri Vaya Vandana Yojana is a pension scheme available for senior citizens. On opting for monthly pension, senior citizens get a guaranteed pension at a fixed rate for 10 years under the scheme. This scheme also offers death benefit. Under this, the purchase price is returned to the nominee. Earlier this policy was open for a very short period. Then its period was extended to 31 March 2020. Now it has been extended for another three years till March 31, 2023. The minimum entry age in the scheme is 60 years. That is, senior citizens of 60 years or more can invest in it. There is no maximum age limit. A person can invest a maximum of Rs 15 lakh in the scheme. Loan facility is available on PMVVY after three policy years. The maximum loan amount cannot exceed 75% of the purchase price. This scheme of Modi government can be availed through Life Insurance Corporation of India. In this annually 7. Interest is available at the rate of 40 per cent. This is the reason that so far about 6.28 lakh people have taken advantage of this scheme.
7. National Savings Certificate
National Savings Certificate i.e. NSC is such a tool, by investing in which your money not only increases, but you also get tax benefits. At the same time, the interest on investment made by the government in NSC is also very good. The best thing about it is that it is a government scheme, so your investment will be completely safe. To invest in this, you can go to any post office and invest. It has a maturity period of 5 years and the investment made in it can also get tax exemption up to Rs 1.5 lakh under 80C.
8. Pradhan Mantri Jeevan Jyoti Bima Yojana
Pradhan Mantri Jeevan Jyoti Bima Yojana is a term insurance plan. If the person dies after investing in it, then his family gets Rs 2 lakh. The Modi government had started this scheme on 9 May 2015. If you want, you can take care of your family along with taking advantage of tax by investing money in it.
No medical examination is required to buy insurance under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).
The minimum age for taking a term plan under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is 18 years and the maximum age is 50 years. The maturity age of this policy is 55 years.
Under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), the term plan has to be renewed every year. In this, the sum assured i.e. the sum insured is Rs 2,00,000.
The annual premium for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is Rs 330. This amount is taken from your bank account through ECS. Banks levy administrative charges in the scheme amount. Apart from this, GST is also applicable on this amount.
PMJJBY policy purchased on any date, its coverage for the first year will be till 31st May of the next year.
So friends, by investing money in these 8 government schemes, you can avail both benefits of better returns and safe investments.
So friends, hope that today’s information will definitely be useful to you.
