Do you have a public provident fund-PPF account? Do you hide money in Sukanya Samurdhi Yojana scheme? The rules of these schemes have changed. Due to coronavirus lockdown, the central government has relaxed some of the rules for these schemes. How much money can clients deposit for the financial year 2020-21? But the Center has revised the statute of limit for those who cannot deposit money in the 2019-20 financial year due to lockdown
Normally, by March 31, 2020, the accounts will be inactive if they are not remitted once in that financial year. The account is activated only when a fine and revival fee is paid. However, the central government has extended the deadline of March 31, 2020, to June 30, 2020.
Any PPF accounts mature by March 31, 2020, can be extended to 30 June 2020. For this purpose, PPF subscribers must sign the application form and send it to the registered email id. The original copy should be submitted after the lockdown is lifted. The maximum savings in PPF and Sukanya Samriddhi Yojana scheme is 1.5 lakhs in a financial year. If you deposit more, the more you deposit, the more interest the banks offer. Customers will have to remit the money for fiscal years 2019-20 and 2020-21.
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