PPF, NPS, SSY Deadline: Save Before March 31 for Tax Benefits
The financial year 2025-26 is nearing its conclusion with deadlines for accounts like PPF, NPS, and SSY. By March 31, investors need to meet these requirements to avoid penalties and ensure their accounts remain active for future tax benefits.
Highlights
- •PPF, NPS, and SSY accounts have specific deposit requirements for March 31 to remain active and avoid penalties.
- •A minimum deposit of Rs 500 for PPF account is necessary every year to stay active; failure to do so may lead to account inactivity.
- •SSY account holders must deposit a minimum of Rs 250 annually to avoid default status, and accounts can be reactivated if missed deposits are paid.
- •NPS account holders need to deposit a minimum of Rs 1,000 annually to avoid account freezing, avoiding penalties and ensuring full tax benefits.
As the financial year 2025-26 comes to a close, deadlines for various financial accounts like PPF, NPS, and SSY are looming. The deadline for all these accounts is March 31.
PPF accounts require a minimum deposit of Rs 500 each financial year to remain active. Failing to do so can lead to account inactivity and penalties. Deposits need to be made by March 31 to ensure reinactivation and avoid penalties.
The SSY account, targeting parents saving for their daughters, also mandates deposits of at least Rs 250 annually. Failure to meet this requirement may result in a default account, which can be reactivated with a deposit and a penalty. Reactivation is still possible as long as a deposit is made by March 31, 2026.
NPS (National Pension System) requires a minimum deposit of Rs 1,000 annually to avoid account freezing. If the requirement is not met, a refund and penalty will be applicable. By ensuring all required deposits are made before March 31, investors can secure tax benefits and avoid penalties.
