Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: cpt :: empanelment :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: VAT Audit :: ACCOUNTING STANDARD :: form 3cd :: Central Excise rule to resale the machines to a new company
 
 
« News Headlines »
 All about income tax return form Sahaj
 Why seeing Form 26AS is a must before filing tax return and how to access it
 No tax on notice period pay cut
 Interpretation Of Central Goods And Services Tax (Cgst) Act (Part-1)
 What to do if you haven’t filed your taxes
 Income Tax Declaration To Employer: 10 Changes You Should Be Aware Of
 What your income tax says about you
 Self e-filing of income tax returns
 Why do we get 3 extra days to file income tax returns in 2017?
 Income Tax department launches 'Operation Clean Money'-II
 Here’s how to e-file your income tax return

Postal saving schemes see dip in collection
March, 05th 2008
The once popular postal saving schemes seem to be losing out to other investment instruments prompting the Finance Minister to extend income-tax benefits to some more of these schemes as part of the Budget proposals. Almost all the various schemes offered by the postal department have seen decline in collection over the past two years.

For instance, the deposits in the National Savings Scheme have fallen from Rs 571 crore in 2004-05 to Rs 317 crore in 2006-07. The Senior Citizens Savings Scheme is down from Rs 8,818 crore to Rs 7,238 crore during the corresponding period.

The department has, however, seen the biggest erosion of deposits from its Monthly Income schemes which have decreased by almost 50 per cent from Rs 48,691 crore in 2004-05 to Rs 20,812 crore. Only the Public Provident Fund scheme has seen a rise in collection from Rs 3,112 crore to Rs 3,797 crore. Even the Kisan Vikas Patra has seen a decline by Rs 5,781 crore.

Government officials said that a number of steps have been taken to popularise these schemes in the light of competition from the private financial sector, including a media campaign and providing training to agencies involved in mobilising collection in Small Savings Schemes.

The Department of Post has also increased the maximum deposit ceiling of Rs 3 lakh and Rs 6 lakh under the monthly income account to Rs 4.5 lakh and Rs 9 lakh for single and joint account, respectively.

The restriction on opening of more than one account in a month under the Senior Citizens Savings Scheme has been removed.

Bonus at the rate of 5 per cent on the deposits made under the post office monthly income account scheme has been reintroduced.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Achievements

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions