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Best post office schemes that offer over 7% interest

When it comes to investments, you always need to do a careful planning and research before settling with an option. This is because, the decision you make can affect the several aspects of your investment like flexibility of operation, tenure and interest rate besides many others. Here we compare between the FDs offered by banks and the Post Office Savings Scheme to decide which among them is the better option for investors looking from different angles. Bank FDs and Post Office Savings Bank FDs are the conventional fixed deposit investment instruments offered by different banks. Any amount of money without any upper limit can be invested in FD for a period ranging from 12 months to 60 months. The rates of interest for FDs vary between banks and for different categories of investors like regular investors and senior citizens. Post Office Savings scheme is operated by Post Office which is also popularly called as small savings scheme. They are known to offer far better interest rates and returns than bank deposits. Here is a comparison of the different features of FD and Post Office Saving Scheme. Interest rate of Bank FD and Post Office To compare the interest rate between FD and Post Office, let us take the case of SBI for example. SBI is the largest lender in the country. While SBI offers only 5.75% interest on your investment in FDs, a five year term post office term deposit can give you 7.4%. The interest rate of PPF is 7.8%. NSC offers 7.6% interest on deposits and the interest rates for deposits in <keyword id="248266" type="PERSON" weightage="20" keywordseo="Sukanya">Sukanya</keyword> Samriddhi and KVP are 8.1 percent and 7.3 percent respectively. Tax efficiency When compared to the banks FDs, some schemes offered by the post office are seen to be more tax efficient. For instance, what is earned from PPF is completely tax exempted. On the other hand, all that is earned from FD is taxable. Under Section 80C, it is possible to get tax savings for bank FDs. Some select post office savings schemes like PPF, National Savings Certificate, and Sukanya Samriddhi can give the investors similar tax benefits. Since post office savings schemes combine in them a higher interest rate as well as some attractive tax benefits, they weigh more than the bank FDs. Advantages for senior citizens in FD and Post Office Majority of the bank deposits do not give any encouraging benefits to senior citizens. Whereas, the Senior Citizens Saving Scheme offers 8.3% per annum. The senior citizens looking for monthly income will find the monthly income scheme much better at Post Offices s it would offer an interest rate of 7.3% per annum. The monthly interest rates on the bank deposits are considerably lower and hence are not that beneficial when compared with the post office savings schemes. Service quality in Bank FD and Post Office In this one aspect, the banks significantly outweigh the post offices. When it comes to customer service, banks work with the latest and advanced technology today. The experience at the post office can be time consuming and tedious involving a lot of paper work. However, considering the significant gains that you have while investing in the post office savings schemes, you can overlook this aspect and settle with these better investment instruments to gain more from your hard earned money.

Bank FD Vs Post Office Saving Scheme : Which Is Better

<keyword id="6380711" type="UNKNOWN" weightage="20" keywordseo="post-office">Post Office</keyword> in India provides a host of savings schemes to the citizens and most of them assure a risk-free high returns on the investments. The reliability and operational convenience of the different post office savings schemes have made a lot of Indians turn towards these investment instruments as highly sought after options. Offered through 1.54 lakh post offices located across the country, some of the major benefits of these schemes include attractive tax benefits, reliability, security and high interest rates. Here is a list of some post office savings schemes and their unique advantages over other investment options. Some popular post office savings schemes <ul><li>Post Office Savings Account</li><li>Post Office Recurring Deposit Account (RD)</li><li>Post Office Time Deposit Account (TD)</li><li>Post Office Monthly Income Scheme Account (MIS)</li><li>Senior Citizen Savings Scheme (SCSS)</li><li>Public Provident Fund Account (PPF)</li><li>National Savings Certificates (NSC)</li><li>Kisan Vikas Patra (KVP)</li><li>Sukanya Samriddhi Accounts (SSA)</li></ul>Unique advantages of post office savings schemes Ease of operation The various post office savings schemes are very easy to operate. They are highly suitable both for rural as well as urban investors. The ease of accessing them and operating them make them attractive options for people from all walks of life. Simplicity and government support All the post office savings schemes are simple in their nature without any need for cumbersome documentation. Since these are backed by the government, there are much safer than the other kinds of investment instruments. Long term investment options Some post office savings schemes like PPF (Public Provident Fund) are long term oriented. They are also forward looking to meet the retirement needs of the investors. Hence such schemes give room for pension and retirement planning. Tax exemption The majority of the post office savings schemes carry tax deductions under Section 80C for the amount deposited in them. The interest earned from savings schemes like PPF, <keyword id="2713906" type="PERSON" weightage="20" keywordseo="Sukanya-Samriddhi-Account">Sukanya Samriddhi Account</keyword> and SCSS enable for claiming tax exemption for the amount earned as interest through these investments. High interest rates and risk-free nature The interest rates in the various post office savings schemes range from 4% to 9% which is very attractive in many cases when compared to the interest rates offered by the different kinds of bank deposits. Since post office is an undertaking by the Government of India, the investments in them are safer as against investing in the private sector and even in some other kinds of banks. Wide range of investment choices Post offices offer a wide portfolio of investment options for different categories of investors and across different purposes of investments. Hence depending on their situation and need, the investors can choose the instrument that meets their needs and expectations. Take away The ultimate objective behind the various savings schemes operated by the government through post offices is to provide the citizens with safer and easier investment avenues. All these schemes are very easy to manage and the money invested in them is safe without being subjected to any kinds of risks whatsoever while letting the people achieve their financial goals in a much better way.

Post Office Saving Schemes: which are best?

Top monthly income investment plans in India

<keyword id="2757237" type="PERSON" weightage="20" keywordseo="Sukanya-Samriddhi-Yojana">Sukanya Samriddhi Yojana</keyword> is an incredible savings scheme offered by the Central Government for the benefit of girl children. Post Offices and some banks are authorized to operate these accounts on behalf of the government. Customers can open this account in some simple steps by submitting the required documents at the designated branches of banks and post offices offering this facility. Here are the features of this scheme you need to know and how to open this account to benefit your girl child. Who can open this account? <keyword id="7329439" type="UNKNOWN" weightage="20" keywordseo="sukanya-samriddhi-yojana-account">Sukanya Samriddhi Yojana account</keyword> can be opened by any parent or a legal guardian of a girl child of less than 10 years of age. Under this scheme, only one account can be opened for a given child. Also, the parents or legal guardians can open this account only for two girl children in a family. However, a third account is permitted in case the first or second delivery gives birth to twin girls. Documents required to open a <keyword id="248266" type="PERSON" weightage="20" keywordseo="Sukanya">Sukanya</keyword> Samriddhi Yojana account The documents required to open an account under the Sukanya Samriddhi Yojana include the SSY account opening form, birth certificate of the girl child on whose name the account must be opened, identity proof, and residence proof. The documents submitted as proof of identity and address must satisfy the KYC guideline issued by the RBI. Attractive features of Sukanya Samriddhi Yojana Account This scheme provides an attractive interest of 8.4%. However, the interest rate is regulated by the Ministry of Finance from time to time. In a given financial year, a minimum amount of Rs. 1,000 can be invested. The maximum amount that can be invested in a financial year is Rs. 1,50,000. In a given account opened under this scheme, deposits can be made until the girl child attains 14 years of age from the date of opening the account. The account opened under this scheme will mature once the girl child completes 21 years of age. If the marriage of the girl happens before the account matures, the account cannot be operated beyond the date of the child’s marriage. Tax exemption The investment made in the Sukanya Samriddhi Yojana account is fully exempted from Income Tax under Section 80C. the tax benefits offered by this scheme comes under the triple E regimen which means the principal amount, interest accumulated and also the outflow are all tax exempted. Once the account holder attains the age of 18, a partial amount can be withdrawn to support the girl’s higher education. Simple steps to open a Sukanya Samriddhi Yojana Account You can open a Sukanya Samriddhi Yojana account by visiting any authorized post office or the authorized branches of nationalized banks. For a general understanding, we can say all those banks that provide the facility to open public provident fund (PPF) account provide the facility to open a Sukanya Samriddhi Yojana Account also. The bank branches and post offices will provide the complete assistance to open this account. Once the account is opened, the account holder will be given a passbook.

How to open Sukanya Samriddhi Yojana account

The <keyword id="47209" type="ORGANIZATION" weightage="80" keywordseo="Finance-Ministry">Finance Ministry</keyword> has given nod to constitute a committee under <keyword id="30067" type="ORGANIZATION" weightage="80" keywordseo="RBI">RBI</keyword> Deputy Governor HR Khan to look into unclaimed amounts in <keyword id="76579" type="CITY" weightage="100" keywordseo="PPF">PPF</keyword>, post office and savings schemes. The committee will recommend how this money can be used for the financial welfare of the senior citizens. 
 
The committee will submit its report by the end of this year. It will value the amount lying unclaimed and also giver its recommendation whether that amount should be placed within the government account or not. 
 Finance Minister <keyword id="42575" type="PERSON" weightage="80" keywordseo="Arun-Jaitley">Arun Jaitley</keyword> had announced in the Budget that "a large amount of money was estimated to be lying as unclaimed amounts with PPF, post office and savings schemes.”

Finance Ministry Okays Panel On Unclaimed PPF And
Other Deposits

By K J Bennychan Mumbai, Mar 1 () The Central Board of Direct Taxes (CBDT) will link annual appraisals and postings of field officers with their performance in terms of collection under the 'Vivad se Vishwas' scheme, according to a communication. An office memorandum from the CBDT, dated February 21, also said that collection outcomes would play a bigger role in the future postings of the field officers. The latest missive assumes significance as there have been concerns over alleged 'tax terrorism' and undue harassment of genuine taxpayers by tax officials. The economic growth is also slowing down. Soon after the dispute settlement scheme was announced, the department asked the field officers to work on holidays/Saturdays so that when the scheme is formally launched they get a head-start on the collection front. 'Vivad se Vishwas' scheme for resolving income tax cases was announced during the 2020-21 Budget presentation by Finance Minister Nirmala Sitharaman. A target of mopping up Rs 2 lakh crore by March 31 has been set. The scheme would formally be launched on Monday, when Parliament resumes the second leg of the Budget session. There are 4.83 lakh direct tax cases worth over Rs 9 lakh crore pending in various appellate forums -- Income Tax Appellate Tribunal (ITAT), high courts and the Supreme Court. According to the memorandum, the department has told field officers that their annual performance and increments would be linked to the collection outcomes of the disputes they handle. A copy of the memorandum has been accessed by . Latest official data showed that economic growth slowed to a near seven-year low of 4.7 per cent in October-December 2019. The CBDT's missive also comes as the government is desperate to meet fiscal deficit targets. Fiscal deficit has already crossed 128.5 per cent of the full year target as of end-January. "As already conveyed, the performance of the field officers in respect of the Vivad se Vishwas scheme, shall be an essential factor in finalising their Annual Performance Appraisal Reports (APARs) and shall also be an important factor in determining their future postings," it said. "In this regard, I have been directed to convey that the target for assessment of the performance of field officers in respect of the said scheme has been fixed at 100 per cent of the cases with disputed tax demand which will fulfil the eligibility conditions under the scheme," Income Tax Commissioner (C&amp;S) Rakesh Gupta said in the memorandum. The memorandum has been sent to all zonal chief IT commissioners. Under the proposed scheme, a taxpayer who pays the disputed tax before March 31, 2020 will get complete waiver of interest and penalty. The scheme would remain open from March 1 to June 30, 2020, and those who avail of it after March 31 would have to pay some additional amount. Though officially no target have been set, some officers said they have been clearly told to ensure that the scheme mops up at least Rs 1.5 lakh crore to Rs 2 lakh crore and at least Rs 50,000 crore this fiscal. The latest missive seems to have left the field officers seething as they have already been asked to work on weekends and holidays. Already, many of their associations have protested against orders to work on weekends to complete the task of extracting revenue from pending tax disputes. A source said total receipts have shrunk by 2.4 percentage points to Rs 12.82 lakh crore this fiscal till January 31. The government has garnered only 66.3 per cent of tax revenue estimated in the revised estimates of this fiscal as against 68.7 per cent of the full year estimate previous year, according to data released by the Controller General of Accounts on Friday. Direct tax mop-up in April-January declined 4.9 percent to Rs 7.45 lakh crore, or 63.7 percent of the revised estimate for the full financial year, as per official data. It also showed that cumulative gross and net tax revenue collection contracted in April-January by 2 per cent and 2.1 per cent, respectively. With this, meeting the revised estimates would be a Herculean task as for the remaining two months gross tax revenues must clip at 22.1 per cent and net tax revenue at 70 per cent over the previous year, according to taxmen. Total receipts during April-January stood at Rs 12.82 lakh crore, with tax revenue at Rs 9,98,037 crore Non-tax revenue and non-debt capital receipts stood at Rs 2,52,083 crore and Rs 32,737 crore, respectively. The government has already curbed its expenditure by 800 bps to 25 per cent, or by over Rs 2 lakh crore. During April-January, total expenditure stood at Rs 22.68 lakh crore, or 84.1 per cent of the revised estimates. This includes Rs 4.71 lakh crore of interest payments and over Rs 2.62 lakh crore of major subsidies. BEN RAM ABMABM

CBDT to link field officers' annual appraisals, postings with 'Vivad se Vishwas' mop-ups

Both the <keyword id="114852" type="ORGANIZATION" weightage="20" keywordseo="Public-Provident-Fund">Public Provident Fund</keyword> (<keyword id="76579" type="CITY" weightage="20" keywordseo="PPF">PPF</keyword>) scheme and the <keyword id="2757237" type="PERSON" weightage="20" keywordseo="Sukanya-Samriddhi-Yojana">Sukanya Samriddhi Yojana</keyword> scheme are two investment options backed by the Government of India. Hence both these plans assure safety and security of the invested amount. Also, Section 80 C of the Income Tax Act of 1961 allows tax exemptions for the contributions made on them. Here we compare between these two investment options to know how to choose between them. Nature of these schemes The main objective of the <keyword id="248266" type="PERSON" weightage="20" keywordseo="Sukanya">Sukanya</keyword> Samriddhi Yojana investment is to secure a girl child’s future. PPF can be understood as a small savings scheme that can give good returns in the long term. Eligibility to open the account The parents or the legal guardians of a girl child can open an account on her behalf until she attains 10 years of age. Only one account can be opened in the name of a given girl child under the Sukanya Samriddhi Yojana and a family can only open a maximum of two accounts if there are more than one girl child in the family. On the other hand, any Indian resident can open a PPF account. This account can also be opened on behalf of a minor. Maturity tenure The tenure of a SSY scheme is 21 years or when the girl gets married after attaining the age of 18. PPF scheme comes with a lock in period of 15 years. Minimum and maximum amount of deposit The minimum amount that can be deposited in a SSY scheme is Rs 250 and it is Rs 500 in case of PPF scheme. The maximum amount that can be deposited in both these schemes per year is Rs 1.5 lakhs. Tax benefits Section 80 C under the Income Tax Act of 1961 allows tax exemptions for an upper limit of Rs 1.5 lakhs per year invested in both these schemes. In this regard, these schemes are just similar to each other. Interest rates Both these schemes come with an interest that is compounded on an annual basis. The interest rates of both these schemes vary year on year and at present the interest rate is 7.9% for SSY and it is 8.4% for PPF. Managing the accounts An SSF account or a PPF account can be opened in a bank or post office that offer these schemes. Also, they can be transferred from a bank to post office and also vice versa. Liquidity In SSY scheme, complete withdrawals are allowed only when the girl child attains 21 years of age or when her marriage is arranged after her 18th year. Up to 50% of the amount accrued can be withdrawn for the girl’s education or marriage after the girl attains 18 years. In a PPF scheme, partial amount (50% of what has accumulated) can be withdrawn after the 6th year of opening the account. How to decide between them Sukanya Samridhi Yojana and a PPF scheme have many things in common between them. However, the choice of the right investment option will have to depend on the reasons for the investment and what you expect from the investment.

PPF Vs Sukanya Samriddhi Yojana Scheme which is better?

Both the Public Provident Fund (PPF) scheme and the <keyword id="2757237" type="PERSON" weightage="20" keywordseo="Sukanya-Samriddhi-Yojana">Sukanya Samriddhi Yojana</keyword> scheme are two investment options backed by the Government of India. Hence both these plans assure safety and security of the invested amount. Also, Section 80 C of the Income Tax Act of 1961 allows tax exemptions for the contributions made on them. Here we compare between these two investment options to know how to choose between them. Nature of these schemes The main objective of the <keyword id="248266" type="PERSON" weightage="20" keywordseo="Sukanya">Sukanya</keyword> Samriddhi Yojana investment is to secure a girl child’s future. PPF can be understood as a small savings scheme that can give good returns in the long term. Eligibility to open the account The parents or the legal guardians of a girl child can open an account on her behalf until she attains 10 years of age. Only one account can be opened in the name of a given girl child under the Sukanya Samriddhi Yojana and a family can only open a maximum of two accounts if there are more than one girl child in the family. On the other hand, any Indian resident can open a PPF account. This account can also be opened on behalf of a minor. Maturity tenure The tenure of a SSY scheme is 21 years or when the girl gets married after attaining the age of 18. PPF scheme comes with a lock in period of 15 years. Minimum and maximum amount of deposit The minimum amount that can be deposited in a SSY scheme is Rs 250 and it is Rs 500 in case of PPF scheme. The maximum amount that can be deposited in both these schemes per year is Rs 1.5 lakhs. Tax benefits Section 80 C under the Income Tax Act of 1961 allows tax exemptions for an upper limit of Rs 1.5 lakhs per year invested in both these schemes. In this regard, these schemes are just similar to each other. Interest rates Both these schemes come with an interest that is compounded on an annual basis. The interest rates of both these schemes vary year on year and at present the interest rate is 7.9% for SSY and it is 8.4% for PPF. Managing the accounts An SSF account or a PPF account can be opened in a bank or post office that offer these schemes. Also, they can be transferred from a bank to post office and also vice versa. Liquidity In SSY scheme, complete withdrawals are allowed only when the girl child attains 21 years of age or when her marriage is arranged after her 18th year. Up to 50% of the amount accrued can be withdrawn for the girl’s education or marriage after the girl attains 18 years. In a PPF scheme, partial amount (50% of what has accumulated) can be withdrawn after the 6th year of opening the account. How to decide between them Sukanya Samridhi Yojana and a PPF scheme have many things in common between them. However, the choice of the right investment option will have to depend on the reasons for the investment and what you expect from the investment.

PPF Vs Sukanya Samriddhi Yojana Scheme, which is better?

New Delhi, Dec 3 () State-owned telecom firm BSNL has urged the telecom department to deploy adequate number of senior ITS officers on key managerial position to ensure uninterrupted service to its customers.
The company has rolled out voluntary retirement scheme to reduce the number of employees and related expenses.
The BSNL has also raised concern before the Department of Telecom about favourable orders being issued by it for repatriation or deputation of some employees to other organisations, which is creating indiscipline among certain quarters of the deployed officers.
After the announcement of VRS, BSNL Human Resource Director Arvind Vadnerkar has written to the DoT citing its Chairman and Managing Director PK Purwar request in July for deployment of 200 additional ITS officers apart from existing 550 personnel already deployed at the organisation on important senior managerial positions at the public sector firm.
"BSNL is passing through a crisis situation where manning all the key managerial position is the need of the hour for ensuring uninterrupted service to valuable customers in the best business interest of the company," Vadnerkar said in the letter.
The government in October approved a Rs 68,751-crore revival package for loss-making BSNL and MTNL, including 4G spectrum allocation and voluntary retirement scheme, as well as their merger.
Vadnerkar said that periodical change in the posting of officers is desirable to meet urgent manpower requirement across the field but some officers engage with the DoT to seek favourable order to stay in the circle or area where they were posted.
The BSNL HR Director said there are some 32 ITS (Indian Telecommunications Service) officers seeking their relieving from BSNL, who have either been selected for deputation or to be repatriated back to DoT in accordance with the orders of the department.
"Such a tendency of circumventing orders of competent authority in BSNL shows growing evidence of indiscipline among certain quarter of deployed officers," Vadnerkar said.
According to ITS Association, the officers deployed at BSNL by the DoT have repeatedly expressed concern over the delay in payment of salaries, dues and discriminatory treatment meted out to them at the organisation demotivates them to work for the PSU and therefore demanded their repatriation.
The association representatives said that the BSNL is running short of officers because it has offered VRS to 803 senior level officers out of which 458 have opted for it.
"When BSNL needs Grade A level officers to man important position, the management should have not offered them VRS. Instead of demanding ITS officers from the DoT, BSNL should send back around 550 ITS back to the department. This will help them in saving of over Rs 500 crore," ITS Association President PK Jain said.
Total, one lakh BSNL employees are eligible for the Voluntary Retirement Scheme (VRS) out of its total staff strength of about 1.50 lakh. The effective date of voluntary retirement under the present scheme is January 31, 2020.
Over 92,000 BSNL and MTNL employees have opted for VRS. BSNL is looking at a savings of about Rs 7,000 crore in wage bill, if 70,000-80,000 personnel opt for the scheme. PRS PRS BAL
BAL

BSNL seeks more senior technical officer to ensure uninterrupted service

<ul><li>Following the launch of the <keyword id="48812" type="COMPANY" weightage="20" keywordseo="India-Post">India Post</keyword> <keyword id="2324069" type="PERSON" weightage="20" keywordseo="Payments-Bank">Payments Bank</keyword> on Sep 1, the postal service plans to spin off its <keyword id="6406875" type="UNKNOWN" weightage="20" keywordseo="life-insurance">life insurance</keyword> business into a separate unit. </li><li>According to Minister of Communications, Manoj Sinha, the Indian postal service will set up an insurance company by 2020. </li><li>The Indian postal service already dabbles in insurance through the operation of the Postal Life Insurance (PLI) and Rural Postal Life Insurance (RLPI) schemes. </li></ul> After three years of planning, India’s Prime Minister Narendra Modi launched the India Post Payments Bank (IPPB) on September 1st. The payments banking service will be run exclusively by the Indian postal service, which boasts 155,000 offices all over the country, and offer savings accounts with deposits of upto ₹100,000 along with transfers and bill payments. With the initial operation of 650 branches prior to scaling to all post offices - which will create India’s largest banking network - and the deployment of 300,000 postmen to offer doorstep service in far-flung areas, the IPPB is expected to go a long way in helping the government achieve its <keyword id="107911" type="ORGANIZATION" weightage="20" keywordseo="Financial-inclusion">financial inclusion</keyword> goals. In a sign of confidence, the payments bank is receiving a 80% hike in its budget to ₹14.4 billion from the government, which expects it to become profitable in two years time. But a payments bank isn’t all that the Indian postal service, which falls under the Ministry of Communications, has planned. While the IPPB has the ability to cross-sell insurance products, the India Post is said to be working on the launch of an insurance firm. According to Minister of Communications, Manoj Sinha, the Indian postal service plans to set up an insurance company as a business unit by 2020. The idea was first floated <a href="https://www.thehindu.com/news/national/postal-department-looks-to-spin-off-life-insurance-business/article24361491.ece">in July.</a> A tender for the appointment of a consultancy to facilitate the establishment of the insurer is set to go live in the coming week, Sinha added. The Indian postal service already dabbles in insurance through the operation of the Postal Life Insurance (PLI) scheme, which has been around since the late 19th century. The scheme offers life insurance services to government employees, civil servants, employees of state-owned companies and military personnel. It currently has around 4.7 million active policies. A rural complement to the scheme, Rural Postal Life Insurance (RPLI) was launched two decades ago and has since grown to nearly 15 million policies. Sinha explained that the Indian postal service was in the throes of an important transformation, In April 2018, the postal service also decentralised its parcels and logistic services business for the purpose of efficiency and the uptake of e-commerce.

After a payments bank, the Indian postal service now plans to launch an insurance firm

<ul><li> According to the new scheme announced this Tuesday, Indian citizens can submit their passport application to any Regional Passport Office (RPO), Passport Seva Kendra (PSK) or Post Office Passport Seva Kendra (POPSK) near them. </li><li>The application process has been made even more convenient with the launch of an app to facilitate the same. </li><li>At least one PSK or POPSK will be set up in all the 543 Lok Sabha constituencies to make the process even more convenient. </li></ul>Applying for a passport has become a lot easier now. External Affairs Minister <keyword id="6355111" type="PERSON" weightage="20" keywordseo="Sushma-Swaraj">Sushma Swaraj</keyword> announced a <a href="https://www.thehindubusinessline.com/news/national/now-apply-for-passport-from-anywhere-in-india-mea/article24268619.ece?homepage=true">new scheme</a> this Tuesday that lets an Indian citizen apply for a passport anywhere in the country irrespective of where his/her residence is. Earlier, the applicant needed to go to the Regional Passport Office (RPO) under whose jurisdiction the area of the applicant’s residence fell. However, now the citizens can submit the application to any the Regional Passport Office (RPO), Passport Seva Kendra (PSK) or Post Office Passport Seva Kendra (POPSK) near them. If police verification is needed for any application, it will be conducted at the residential address provided on the <a href="https://timesofindia.indiatimes.com/india/now-apply-for-passport-from-anywhere-in-india-centre/articleshow/64752466.cms">application </a>form. The passport, once made, will also be printed and dispatched to the same address. The scheme is expected to greatly benefit citizens who have temporarily migrated, relocated or transferred away from home. The application process has been made even more convenient with the launch of an app. The app named<a href="https://economictimes.indiatimes.com/news/politics-and-nation/heres-how-you-can-now-get-a-passport-without-any-hassles/articleshow/64757695.cms"> mPassport Seva App</a> helps do away with computers and printers that was earlier needed for the process. The app is available on both Android and iOS platforms. It lets you log in as a new user or an existing user and supports services like applying, paying and scheduling appointments. Applying for required documents like, a police clearance certificate, will also be a click away. You can also track the status of your passport application using just your date of birth and file number. Once the passport is dispatched, you can also track its delivery through the app. Swaraj choose the occasion of the <keyword id="6657307" type="UNKNOWN" weightage="20" keywordseo="Sixth-Passport-Seva-Divas">Sixth Passport Seva Divas</keyword> to announce the schemes, after which she talked about the developments that had already taken place in the process of passport application. She said that there were <a href="https://timesofindia.indiatimes.com/india/now-apply-for-passport-from-anywhere-in-india-centre/articleshow/64752466.cms">77 PSKs</a> made available in 48 years, while 231 more were added in the last 48 months. These add up to make 307 PSKs at present, in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>. Speaking at the event, Swaraj further announced that since these are still not enough, at least one PSK or POPSK will be set up in all the 543 Lok Sabha constituencies to make the process even more convenient. Recalling all the developments made over her time, the minister called it a “<a href="https://www.businesstoday.in/current/economy-politics/big-relief-now-apply-for-passport-from-anywhere-in-india/story/279605.html">passport revolution</a>” as she pointed out that unnecessary requirements for a passport including the marriage certificate, had been scrapped during her tenure.

Applying for a passport in India is now just a click away

The different government schemes of investment have gained immense popularity among the public in India as they assure the best investment rates and are highly affordable and accessible to all. The different kinds of state-owned small savings investment vehicles also enable the investors for some attractive tax benefits. In terms of assuring the highest returns, the two most popular savings schemes available with the post offices are Public Provident Fund (PPF) and <keyword id="162207" type="PERSON" weightage="20" keywordseo="Kisan-Vikas-Patra">Kisan Vikas Patra</keyword> (KVP). Hereunder we compare between these two investment vehicles to understand them better. KVP (Kisan Vikas Patra) While choosing to invest in KVP, individuals can earn up to 7.6% interest on their invested amount. Similar to what is done in PPF account, the interests are compounded annually. The start the investment, you need to invest a minimum of Rs 1000. There is no maximum limit for your investment. The investment amount will double in 112 months. KVP certificates can be purchased from any post office. Nomination facility is available. Certificate is transferable between post offices and between persons. From the date of issue, you can get back the money on your certificate after two and half years if there is a need for you. PPF (Public Provident Fund Account) This scheme gives 8% <keyword id="37018" type="PERSON" weightage="20" keywordseo="interest-rate">interest rate</keyword> over the invested amount. The interest is compounded annually int his case. It is possible to invest as low as Rs. 500 and up to a maximum limit of Rs. 1.5 lakhs per year. You can also choose to make the deposit in lump sum or in installments. You need to open this account with Rs 100 and have a minimum deposit of Rs 500 in it to be able to operate it. The maturity period is 15 years but it can also be extended to five more years eventually. You cannot close the account before 15 years. Starting from the 7th financial year of opening the account, you can start withdrawing cash if you want. From the 3rd year, loan facility is also available. Points of comparison between KVP and PPF Interest rate The rate of interest from 1st July 2019 on KVP is 7.6%. This is considerably lesser than what you get on PPF. Also the other benefits that you have in PPF are not available in Kisan Vikas patra. Deduction under Section 80C Under Section 80C, investments made in PPF can enable you for a deduction of Rs. 1,50,000 in a financial year. However, investments in KVP are not eligible for tax deductions. Tax on the interest earned As it is considered under the accounting category ‘income from other sources’, the amount you earn as interest on the deposits in KVP is taxable, while it is not taxable in case of PPF. Lock in period The lock in period is quite high in case of KVP as against the kind of flexibility you enjoy with a PPF scheme. Even in case of PPF, experts advise that you can think of investing to an upper limit of Rs. 1,50,000 per annum and then choose other kinds of investment options in order to maximize your tax savings.

Kisan Vikas Patra Vs Public Provident Fund(PPF) which is better?

<ul class="summary-list"><li>Trump Organization CFO <keyword id="4145329" type="PERSON" weightage="60" keywordseo="allen-weisselberg">Allen Weisselberg</keyword> complained about his long commute, court documents say.</li><li>He appeared to defend receiving luxury cars from his employer, The Washington Post reported.</li><li>But prosecutors allege the perks were part of a tax-avoidance scheme.</li></ul><a href="https://www.businessinsider.com/allen-weisselberg-trump-organization-cfo-investigations-2021-3">Trump Organization Chief Financial Officer Allen Weisselberg</a>, who is accused of accepting luxury cars as part of a tax-avoidance scheme, complained about his long commute while in custody, <a href="https://www.washingtonpost.com/national-security/indicted-trump-organization-executive-may-have-defended-his-mercedes-perks-in-custody-court-documents-show/2021/07/19/493544ca-e8b0-11eb-ba5d-55d3b5ffcaf1_story.html">court papers obtained by The Washington Post show</a>.According to prosecutors cited in the documents, Weisselberg apparently offered a defense of the arrangement.He is said to have complained about the long commute from his suburban home to the Trump Organization offices in Manhattan. "In sum and substance, defendant Allen Weisselberg stated that the commute to work from Long Island was difficult," the documents filed by prosecutors in the New York Supreme Court say, according to The Washington Post. Weisselberg is said to have made the comment before pleading not guilty to charges of fraud and grand larceny.The 15-count indictment against Weisselberg and the Trump Organization was <a href="https://www.businessinsider.com/manhattan-da-will-charge-trump-org-allen-weisselberg-thursday-wsj-2021-6">filed by the Manhattan District Attorney's Office</a> as part of its wide-ranging investigation into former President Donald Trump's company. Attorneys for the Trump Organization also pleaded not guilty to the charges.Weisselberg said on the day of his arrest he had been living in his Upper West Side apartment since 2005, The Post reported.The outlet said it was unclear whether he meant that commuting from Long Island was difficult, or the trip from one part of Manhattan to another was arduous.For decades, his former daughter-in-law Jennifer Weisselberg said, Allen Weisselberg commuted to his job in Trump Tower from <a href="https://www.businessinsider.com/trump-showed-shiva-photos-of-naked-women-report-2021-3">a home in Wantagh, Long Island</a>.Trump described the home as "embarrassing" in a 2004 visit during a shiva, Jennifer Weisselberg said. Allen Weisselberg sold the home in 2013, according to The Post.Weisselberg's attorney did not immediately respond to a request for comment. Prosecutors allege that Weisselberg accepted $1.7 million in company perks, including apartment leases, school tuition for his grandchild, and the leasing of two Mercedes-Benz cars, as part of a tax-avoidance scheme. The executive, who has been employed by the Trump Organization for decades, <a href="https://www.businessinsider.com/allen-weisselberg-quit-trump-organization-subsidiaries-before-manhattan-da-indictment-2021-7">has so far resisted pressure from prosecutors to flip</a> and provide evidence to help them build their case.Some legal analysts have said they believe that the case against Weisselberg <a href="https://www.businessinsider.com/trump-org-da-is-using-family-get-weisselberg-cooperate-expert-2021-7">is a warning</a> to other executives whom prosecutors hope will cooperate. Trump has denied any wrongdoing. He has said that the investigation is politically motivated and that the perks were not illegal. Prosecutors are also investigating whether <a href="https://www.insider.com/who-is-matthew-calamari-trump-organization-employee-2019-2">Matthew Calamari, another Trump Organization executive</a>, accepted tax-free perks, <a href="https://www.cnn.com/2021/07/16/politics/matthew-calamari-trump-organization-investigation/index.html">according to CNN</a>.He also has a home on Long Island and another in a Trump Organization-owned apartment building in Manhattan, property records reviewed by Insider show.

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