It is mandatory for you to maintain a minimum balance in tax saving schemes like PPF, NPS and Sukanya Samriddhi Yojana.Â
If you have not deposited any money in these accounts in the current financial year, then put the minimum required amount in it by March 31, 2022, otherwise you may have to pay a fine.
PPF vs NPS vs SSY Minimum deposit money:Â There is very important news for the account holders of Public Provident Fund (PPF), National Pension Scheme (NPS) and Sukanya Samriddhi Yojana (SSY).
Actually, tax-saving schemes require account holders to deposit a minimum amount in a financial year to check that your account is active. That is, by March 31, you will have to update the balance of these accounts in any case.
Check before 31st March
If you have not checked these accounts till now, then check them today. If you have not deposited any money in these accounts in the current financial year, then definitely put the minimum required amount in it by March 31, 2022, otherwise you may have to pay a fine. Actually, once these accounts are deactivated, you have to pay a fine to get them activated again.
Minimum contribution requiredÂ
Whether you opt for the new or old tax regime for the current financial year 2021-22, it is important to ensure that you have deposited the minimum contribution required to keep the account active. Let us know whose minimum balance amount is in these important schemes?
1. Minimum amount to be deposited in PPF
The minimum annual contribution in PPF for a financial year is Rs 500. Along with this, you should also know that the last date for making this contribution for the current financial year is March 31, 2022.
If you have not deposited the amount till now, then do it soon. Otherwise you will have to pay a fine of Rs 50 each year along with an outstanding subscription of Rs 500 for each year. If your account is closed then you will not get any loan in it.
2. Minimum amount to be deposited in NPS
As per the rules, it is mandatory for Tier-I NPS account holders to deposit a minimum of Rs 1,000 in a financial year. At the same time, if the minimum contribution is not made in the NPS Tier-I account, then the account will become inactive.
For this you will have to pay a fine of Rs 100. Not only this, you should know that if one has Tier II NPS account (where lock-in of funds is not required) then along with the freezing of Tier-I account, Tier-II account will also be automatically closed. Will be done.
3. Sukanya Samriddhi Account Scheme
It is mandatory to have a minimum deposit of Rs 250 in a financial year in Sukanya Samriddhi Account. Otherwise you get fined Rs 50 for this.
A defaulted account can be regularized before completion of 15 years from the date of opening of SSY account. In such a situation, if you have not yet checked the minimum amount in this account, then check and update it today.
