Thursday, February 12, 2015

Sukanya Samriddhi Account vs Public Provident Fund (PPF)

Sukanya Samriddhi Account vs Public Provident Fund (PPF)

Points of Difference
Sukanya Samriddhi Account (SSA)
Public Provident Fund (PPF)
For whom
Only for Girl Child.
For every Indian Citizen.

Age Limit
From the birth till she attains age of 10 years.
No age limit.



By whom
By the girl child who has attained the age of 10 years or by the natural or legal guardian.
By the Individual but by the natural or legal guardian for the minor child.

Where to open
Post office and nationalized banks but not   private banks.
Post office and nationalized banks, including private banks.


Number of Account
One account for each girl child, maximum up to 2 or 3 accounts if twin girls are born in the second birth or triplets are born in the first birth.
Each Individual can hold only one account in   his name.

Minimum Contribution
    Rs.1,000
Rs.500

Maximum Contribution
   Rs.1.5 lakhs in all accounts.
Rs.1.5 lakhs in all accounts.
Interest Rate
9.1% per annum for fiscal year 2014-15.
8.70% per annum for fiscal year 2014-15.

Tax Benefit on the Contribution
Contributed Amount will be deductible u/s 80C.
Contributed Amount will be deductible u/s 80C.

Tax Benefit on the interest earned
At present no tax benefit is announced for the interest earned. A mere sum of Rs.1,5o0 will be deductible u/s 10(32) .
Interest Earned is tax free under PPF.

Time Period of contribution
Minimum tenure of contribution is 14 years from the date of opening of account.
Minimum 15 years and then in blocks of 5 years.


Maturity
21 years from the date of opening of account.
15 years from the fiscal year of opening of account.


Penalty
Rs.50 per year if minimum contribution is not made.
Rs.50 per year if minimum contribution is not made.

Mode of Deposit
Cash or Demand Draft or Cheque
Cash or Demand Draft or Cheque


Premature Withdrawal
Allowed up to 50% for the girl’s higher education and marriage after she attains 18 years of age
No premature withdrawal is allowed except in case of death of the account holder.



Loan
No loan can be taken on the SSA balance.
Loan can be taken from the third year of opening of account to the sixth year.

Taxation on Maturity
No tax will be levied on the maturity amount.
No tax will be levied on the maturity amount.

Note:


  1. Interest rate under both the schemes will be notified each year by the Government.
  2. Interest will be compounded yearly under both schemes.
  3. Loan on the PPF balance is restricted to 25% of the balance at the end of 2nd year.
  4. At present interest earned on SSA account is taxable in the hands of guardian but it may get tax rebate in the upcoming budget.
  5. Contributed amount get deduction u/s 80c up to Rs.1.5 lakhs including all other eligible investments.

Sanchay Post 7.5 Patches Installation Order dated 11.02.2015

Please Uninstall the sanchay post 7.5 first and delete the SP5 folder.Then reinstall the sanchay Post 7.5 and Patches as per below order

Sanchay Post 7.5


Patches order:


1. Install Service Pack 1


2. Install Patch 5 dated 07-11-2014


3. Install Patch 6



4. Install Patch 8 dtd 20.11.2014



5. Install Patch 8.1 dated 03_Dec_2014


6.Install Patch 7 dated 23_09_2014


7. Install Patch 10 dated 21_Jan_2015


8. Check FAQ dated 27.01.15 (Issues & Solution link available)


9. Install Patch 10.1 dtd 03_02_2015


10. BO SB ,RD deposit & Withdrawal issues


Thanks to Silambarasan DSM

Sanchay Post : BO SB Deposit and Withdrawl Error and Solution

Issue:

After update sanchay post patch 10 & 10.1 , in some offices facing BO SB depoist & withdrawal error . 

Solution:

  • Download the attached pbd & paste it  in OT folder by overwriting.
Even replace this pbd,same issue exists ,Please Uninstall the sanchay post 7.5 and delete the SP5 folder.Then reinstall the sanchay Post 7.5 and Patches as per sequences 

Download


Download
Thanks to Silambarasan  DSM

Total Viewer software for PLI & RPLI Credit certificate and more

TOTAL VIEWER SOFTWARE

A small reporting tool named Total Viewer developed by Sivakumar N. This tool will be very helpful for generating PLI/RPLI credit certificate in HOs and SOs, to know the dispatch details of registered article, etc.

Download


Installation instruction

  1. Download Total viewer from PoTools developed by Sivakumar N System Admin.
  2. Install Prerequisite for Total Viewer software i.e Crystal Report 2005.
  3. Then install Total Viewer using setup.

Thanks to

Sivakumar N.
System Administrator
O/o Postmaster, Karunagappally
Kollam Division PIN 690518
Email : sivakumarn007@gmail.com