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Words Worth
You can park the money in a bank account and start a monthly Systematic Investment Plan (SIP) in one or two balanced schemes and invest the money over a year or 18 months | |
The interest earned on Kisan Vikas Patra (KVP) doesn't enjoy any tax exemption | |
Ideally, you should shift the money to a safer avenue like a bank deposit or a liquid fund at least a year or two before the actual event | |
If you continue with your daughter's account, she will not be able to open another Public Provident Fund (PPF) in her name | |
Identify short-, medium- and long-term financial goals and start an investment programme to achieve every goal | |
You can make a voluntary contribution to National Pension Scheme (NPS) and claim an extra tax deduction of up to Rs 50,000 under Section 80CCD(1B) | |
On becoming a Non Resident Indian (NRI), you are legally bound to inform the mutual funds about your change in status | |
If you are looking for assured returns with absolute safety of capital, you should stick to bank deposits | |
An individual between 18 and 60 years can join National Pension Scheme | |
The FATCA/CRS form asks the investor is his/her country of tax residency other than India | |
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