APY: Invest just Rs 7 per day in THIS scheme, get Rs 60,000 pension, tax exemption


Atal Pension Yojana: In this day and age, everyone is concerned about the costs of old age. If you want to ensure your old age, you should definitely read this news. Today, we will tell you about a government scheme in which you can invest and receive a monthly pension. This scheme is known as the Atal Pension Yojana (APY).

What exactly is the Atal Pension Yojana?

The Atal Pension Yojana was launched in 2015. Originally designed for people working in the unorganised sector, this scheme is now open to any Indian citizen aged 18 to 40. Depositors in this scheme begin receiving pensions after 60 years.

You can get a minimum monthly pension of Rs 1,000, Rs 2000, Rs 3000, Rs 4000, and a maximum monthly pension of Rs 5,000 under this scheme. This is a government scheme in which your money is secure. You can register if you want to participate in this scheme as well. You must have a savings account, an Aadhaar number, and a mobile number to do so.

Discover the advantages of this scheme

The sooner you invest in the government’s wonderful scheme, the more benefits you will receive. If a person joins the Atal Pension Yojana at the age of 18, he will have to deposit only Rs 210 per month for a monthly pension of Rs 5000 after the age of 60. That is, plan ahead of time to invest in this scheme.

Will receive a Rs 5,000 monthly pension

If you put in 7 rupees every day, you can get a monthly pension of 5000 rupees.

If you deposit Rs 42 every month, you will receive a monthly pension of Rs 1000.

If you want a Rs 2000 pension, you must invest Rs 84.

If you want a monthly pension of Rs 3000, you must invest Rs 126 per month.

If you want a monthly pension of Rs 4000, you must deposit Rs 168 each month.

Tax benefit

The biggest advantage of this scheme is the tax break it provides. Those who invest in the Atal Pension Yojana are eligible for tax benefits of up to Rs 1.5 lakh under Income Tax Act 80C. Actually, it is deducted from taxable income. In addition, in some cases, an additional tax benefit of up to Rs 50,000 is available. This scheme allows for a total exemption of up to Rs 2 lakh.

Scheme’s provision

If an investor dies before reaching the age of 60, his or her spouse can continue to deposit money in the scheme and receive a monthly pension after that age. There is also the possibility that the person’s wife can claim the lump sum amount after her husband’s death. If the wife also dies, her nominee receives the lump sum.

first published:June 13, 2022, 2:42 p.m.

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