These mutual funds have no lock-in period. Withdrawals from liquid funds are processed within 24 hours on business days. The cut-off time on withdrawal is generally 2 p.m. on business days. It means if you place a redemption request by 2 p.m. on a business day, then the funds will… Continue reading
Liquid fund is a category of mutual fund which invests primarily in money market instruments like certificate of deposits, treasury bills, commercial papers and term deposits. Lower maturity period of these underlying assets helps a fund manager in meeting the redemption demand from investors.
The Public Provident Fund (PPF) is one of the most popular tax-saving schemes. It can also be a very good investment option for retirement planning and but many of us treat it as just a tax-saving tool. Till the accounts department sends us a reminder for furnishing tax-saving documents, we… Continue reading
The key to wealth creation lies in the practice of saving regularly and systematically. The public provident fund (PPF) is one such long-term investment option that would suit investors of all types. Scoring high on safety, by virtue of it being government backed, this wonderful option comes with tax benefits,… Continue reading
Limited Liability Partnership entities have been a recent phenomenon in India and were introduced in India by way of the Limited Liability Partnership Act, 2008. A Limited Liability Partnership, popularly known as LLP combines the advantages of both the limited liability of a Company and flexibility of a Partnership into… Continue reading
The rules applying to HUF’s PPF accounts have been modified with effect from May 2005. While earlier an HUF could open a PPF account and save tax on the deduction, this has now been stopped. The rule states that: “As per GSR 286(E) dated 13.5.2005 circulated vide SB Order 10/2004… Continue reading
It’s very important to ensure that you have a nominee on your PPF account, who in the event of your death will receive the PPF corpus. You can nominate one or more persons to receive the amount standing to your credit in the event of your death. Use Form E… Continue reading
Yes, this is true. Considering that your child is a minor, you as the parent / guardian are not entitled to dual exemption of up to Rs. 2 lakhs, the exemption limit remains at Rs. 1 lakh for a minor child. However, if you open an account in your spouse’s… Continue reading
Yes, this is true. The rule of 25th July, 2003 states that ‘Non Resident Indians are not eligible to open an account under the PPF Scheme’. But there is a silver lining for some NRIs. If you already had a PPF account, when you were resident in India, and during… Continue reading
You can close the account after completion of 15 years or the expiry of 15 years from the close of the financial year in which the initial subscription was made. In case of death of the account holder, the balance amount in the account of the deceased account holder will… Continue reading