Tax saving schemes at a glance

Name of securities	Rate of interest	Limits of investment	Exemption under the IT Act	Exemption under the WT Act
(1)	(2)	(3)	(4)	(5)
1,2,3 and 5- year Time Deposit 6-year National savings certificates VIII Issue 5-year Public Office Recurring Deposit 15- year Public Provident Fund Post office Savings Bank Account Post Office monthly income account (6 Years) National Savings Scheme 1987 (now discontinued National Savings Scheme, 1992 (deposit cannot be made after October 31,2002) 5-year Relief Bonds, 2002, (discontinued with effect from March 1, 2003) 5-year Savings Bonds, 2003	Interest @ 6.25 per cent, 7.25 per cent 7.50 per cent p.a. (calculated at quarterly compounding basis) Compound (half –yearly) interest @ 8 percent p.a. payable on maturity Interest compound qtly but payable on maturity. An amount of Rs. 10 denomination will yield Rs. 728.90 at maturity Compound interest @ 8 per cent every year but payable at the time of maturity Interest @ 305 per cent p.a. credited annually nvestment @ 8 per cent per annum payable monthly, in addition a bonus of 10 per cent payable on maturity Interest @ 705 per cent credited annually on April 1 Interest @ 7.5 percent which can be withdrawn at any time 8 per cent p.a. payable half-yearly or compounded with half yearly rests 6.5 per cent payable half-yearly or compounded with half-yearly rests	No limit on deposits; account can be opened in multiples of Rs. 50 in a single name or joint names; ever a minor can open account No limit on deposits; certificates are issued in denominations of Rs. 100, Rs. 500, Rs.1000, Rs 5000 and Rs. 10,000 No Limit on deposits. Deposits can be made in multiples of Rs. 5 p.m. (minimum : Rs. 10 per month) Minimum : Rs. 500 and maximum : Rs. 70,000 in every financial year Minimum: Rs. 20 and maximum: 50,000 for an individual and Rs. 1,00,000 for two or more adults jointly in one or more accounts. No limit on group/institutional or official capacity accounts One or more accounts can be opened but deposits cannot exceed Rs. 3,00,000 in single account and Rs. 6,00,000 in joint account. Only one deposit in the account in the multiple of Rs. 1,000 is permitted One or two deposits per month in multiples of Rs. 100, maximum: Rs. 40,000 in a year No limit on deposit, deposit can be made in multiples of Rs. 100 Maximum investment Rs. 2,00,000 in a year; open for investments by individuals and HUFs; joint holding by individuals permissible No maximum limit, amount can be invested in multiple of Rs. 1000, open for investment by resident individual (joint holding or holding on behalf of minor also possible) or by HUF	Interest exempt up to Rs. 12000 along with incomes from other approved investments under section 80L [see para 107.22-1] Investment and accrued interest qualify for tax rebate under section 88[see also para 111]. Interest exempt up to Rs. 12000 under section 80L Interest exempt up to Rs. 12,000 along with incomes from other approved investments under section 80L [see para 107.22-1] Interest totally exempt under section 10 (11); investment qualifies for tax rebate under section 88 Interest totally exempt under section 10(15) (i) nterest deductible up to Rs. 12,000 along with other incomes under section 80L [see para 107.22-1] 100 per cent of amount deposited is deductible under section 80CCA (up to the assessment year 1992-93), on withdrawal of 100 per cent of principal and interest taxable [see para 107.1]; however amount received by legal heirs on the death of depositor is not chargeable to tax in the hands of legal heirs Interest deductible up to Rs. 12,000 under section 80L, investment qualifies for tax rebate under section 80 Interest is totally exempt under section 10(15) (iic) in the case of an individual and a Hindu undivided family Interest exempt from tax	Not chargeable to wealth –tax Not chargeable Investment not chargeable to wealth-tax Investment not chargeable to wealth-tax Investment not chargeable to wealth-tax Investment not chargeable to wealth-tax Investment of chargeable to wealth-tax Not chargeable to wealth-tax Investment not chargeable to Wealth-tax Investment not chargeable to Wealth-tax.