SAN Wealth

Interest Rate (otherwise known as coupon rate) on Capital gain bonds primarily issued by (PFC or REC or IRFC or NHAI) under 54EC provide long-term capital gain tax exemption expected to reduce to 5.00% from ongoing rate of 5.75%

Contact your financial advisor for more details

5 Key points on PPF to know before the extended deadline till June 30, 2020

👉🏿 Public Provident Fund (PPF) & Sukanya Samriddhi Account (SSA) holders has granted an extended period till June 30, 2020 but only a single deposit can be allowed for FY 2019-20 during this extended period

👉🏿 Deposit made during extended period should accompanied by an undertaking from depositors that they won't breach annual ceiling kept for schemes while deposits into their account

👉🏿 March 31, 2020 will be considered as the last date for the purpose of payment of interest for the deposit made till June 30

👉🏿 No penalty will apply on non-deposit of mandated minimum deposit in Public Provident Fund account for FY 2019-20.

👉🏿 " Withdrawal/ Loans" facilities (if opted now) will be executed on Balance available under Public Provident Fund & Sukanya Samriddhi Account as on 31st March, 2020.
Moreover PPF subscriber whose accounts got matured on Mar 31, 2020 & couldn't extend their accounts due to lockdown, can extend their account now by June 30

3 important timelines related to Personal Finance & Income Tax_for Assessment Year 2020-21

👉🏻 Link Aadhaar & PAN number

An extension till June 30 by Ministry of Finance to avoid PAN card may become inoperative
• Click_ https://www.incometaxindiaefiling.gov.in/home
• Click on ' Link Aadhaar' option on the website
• Fill information like PAN & Aadhaar number and name
• After submit will display present status or link immediately

👉🏻 Investment last-date for Tax-saving

Notified income tax return forms enable taxpayers to claim tax deductions for tax-saving investments, payments, donations and investments for capital gains exemption, made during the extended period until 30 June 2020 by Government of India

👉🏻 IT Return Filing Last-date

As part of the COVID-19 relief measures, the government has extended the due date for filing income tax returns for all taxpayers till 30 November 2020

What is new in the new ITR forms for AY 2020-21
# Income tax return form consist of a separate schedule (Schedule DI) requiring taxpayer to specify the amount of the investment or expenditure in respect of which they wish to claim as deduction

# Such deduction is allowed within the aggregate eligible limits available for FY 2019-20 under the different provisions of the Income Tax Act

e-Filing Home Page, Income Tax Department, Government of India

In last 2 series launched for the month Apr'20 & May'20, out of total 6 (Six) series (till Sep' 20) as planned for this FY by Government of India has total mop up INR 1900 crore

# SGB Scheme 2020-21-Series III has opened for subscription closing June 12, 2020
# Issue price fixed by GOI Rs 4,627 per gram of gold buy (via online/internet banking) & Rs 4,677 per gram of gold (Offline)
# SGB will be purchase through banks , Stock Holding (SHCIL), Post offices, and Stock exchanges (NSE and BSE)
# SGB offer a tax-free, risk-free way to accumulate gold for future as for a Lock-in tenure for eight years
# SGB tracks the price of 24-carat gold and after 8 years one could get money refund as per 24 carat prevailing cost then
# Earn 2.5% per annum interest (taxable as per slab) on the investment gold value as a gift from the govt
# SGB are the most suitable buy among other mode of holding such as Physical Holding Or Gold ETF Or Schemes
# Gold investment crucial as provide asset class diversified holding & a hedge against uncertainty during economic crises

Options like saving a/c or auto FD schemes offered by Banks or Overnight/Liquid Fund offered by mutual fund can be considered

Ideally a minimum 15% to 20% of annual income should park as emergency corpus for managing short-term expenses

We urge everyone to cooperate Social Distancing norms...Stay safe

Need to win the battle against the Virus as soon as possible

NPS_National Pension Scheme

Get the information Series by clicking below link
http://wealthub.in/fixed-income-2/

Get your financial product information & update series_ 2
Click Link: http://wealthub.in/capital-gain-bond/

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