india employmentnews

Not every scheme of Post Office gives tax benefits, these are the 5 popular schemes in which you will not get the benefit of 80C


People invest in most of the schemes of the Post Office thinking that they will get tax benefits. But this is not the case with every scheme, so if you are planning to invest in post office schemes in terms of tax benefits, then first know about those 5 popular schemes in which you do not get the benefit of 80C.

Post Office Monthly Income Scheme makes you earn through interest every month on your deposit. At present, interest is being given at the rate of 7.4 percent. The interest given in this scheme is taxable.

Kisan Vikas Patra is a very old and popular scheme of Post Office. In this scheme, your investment is guaranteed to double in 115 months. In this, interest is being given at the rate of 7.5% per annum. You do not get tax benefits in this scheme.

Post Office FD is also called Post Office TD. This scheme is run for a tenure of 1,2,3 and 5 years. The interest rate is also different according to different tenures. In this, tax benefit is not available on the tenure of 1, 2, and 3 years, but tax benefit can be availed under 80C on the tenure of 5 years. 5-year FD is also called tax-free FD.

Mahila Samman Savings Certificate Scheme is run for women so that they can be encouraged to save by giving better interest. This deposit scheme with a tenure of two years is getting interest at the rate of 7.5 percent. Under this scheme, one cannot avail rebate under section 80C of the Income Tax Act on investment.

Post Office RD is considered a very good scheme for investing a fixed amount every month. Investment in this scheme has to be made for 5 years. Currently, the scheme is giving interest at the rate of 6.7 percent. There are no tax benefits on RD. Tax is levied on the interest received on this.