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Asked by Arpit on :Feb. 02, 2018

Pradhanmantri Vaya Vandana Yojana(PMVVY) Scheme a…

Pradhanmantri Vaya Vandana Yojana(PMVVY) Scheme amendment brought in by Budget 2018?

Pradhanmantri Vaya Vandana Yojana(PMVVY) Scheme amendment brought in by Budget 2018?

0

Kanishka Feb. 02, 2018

Current investment limit has been doubled to Rs 15,00,000 from existing 7,50,000.
The scheme was launched on 04.05.2017 to be in force only for ephemeral period upto 31.03.2018. But now the scheme has been extended till 31.03.2020.
The main merit of the scheme is that it provides assured benefit of 8% return, which is higher than the existing rate on FD’s.
On the flip side the biggest demerit is that, pension received will be fully taxable in the hands of senior citizen/super senior citizen in the year of receipt.
To glean more information about the scheme, you can visit here.

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