https://www.desidime.com/discussions/can-i-send-money-to-my-ppf-account-using-rupay-cc?page=1#post_9188940
dhinchakrohit
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Can I send money to my PPF account using Rupay CC ?
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I was just thinking if I can use Rupay CC linked to UPI to send money to my PPF account in SBI ? 🙄
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https://www.desidime.com/discussions/can-i-send-money-to-my-ppf-account-using-rupay-cc?page=1#post_9188266
Of course not. How will you get a merchant qr for your PPF account?
https://www.desidime.com/discussions/can-i-send-money-to-my-ppf-account-using-rupay-cc?page=1#post_9188611
But you can send it to mutual fund.
Ppfas mutual fund website accept rupay credit card upi.
https://www.desidime.com/discussions/can-i-send-money-to-my-ppf-account-using-rupay-cc?page=1#post_9188858
rajatindia wrote:Do we get points?But you can send it to mutual fund.
Ppfas mutual fund website accept rupay credit card upi.
https://www.desidime.com/discussions/can-i-send-money-to-my-ppf-account-using-rupay-cc?page=1#post_9188895
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On a serious note, mf investment are not allowed using credit cards (type of loan product) as per rbi. Investment in MF are only allowed from registered bank account. This may be a bug which can create a headache while redemption of the fund.
The only approved method to invest using credit card is NPS.
dhinchakrohit wrote:The question should have been "Does ppfas mf's provide good returns on investment?" 😄
Do we get points?
On a serious note, mf investment are not allowed using credit cards (type of loan product) as per rbi. Investment in MF are only allowed from registered bank account. This may be a bug which can create a headache while redemption of the fund.
The only approved method to invest using credit card is NPS.
https://www.desidime.com/discussions/can-i-send-money-to-my-ppf-account-using-rupay-cc?page=1#post_9188904
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SnippierJoker wrote:Thanks. I did not ask the question - "Does ppfas mf's provide good returns on investment" because past performance is no guarantee of future performance.
The question should have been "Does ppfas mf's provide good returns on investment?" 😄
On a serious note, mf investment are not allowed using credit cards (type of loan product) as per rbi. Investment in MF are only allowed from registered bank account. This may be a bug which can create a headache while redemption of the fund.
The only approved method to invest using credit card is NPS.
https://www.desidime.com/discussions/can-i-send-money-to-my-ppf-account-using-rupay-cc?page=1#post_9188926
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dhinchakrohit wrote:No.
Do we get points?
https://www.desidime.com/discussions/can-i-send-money-to-my-ppf-account-using-rupay-cc?page=1#post_9188931
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dhinchakrohit wrote:
Thanks. I did not ask the question - "Does ppfas mf's provide good returns on investment" because past performance is no guarantee of future performance.
And asking "Do we get point" is no way to choose a mf"... 😄
I came here to make fun of OP and saw your post and thought I will start with you... 😜
Anyways invest safely.
Its the new financial year, lot of people are planning to stop investment due to new tax regime but I hope you continue investing... 😃
https://www.desidime.com/discussions/can-i-send-money-to-my-ppf-account-using-rupay-cc?page=1#post_9188934
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SnippierJoker wrote:Yes bro, continuing. But won't invest in ELSS henceforth...Rest all equity mf are there na
And asking "Do we get point is no way to choose a mf"... 😄
I came here to make fun of OP and saw your post and thought I will start with you... 😜
Anyways invest safely.
Its the new financial year, lot of people are planning to stop investment due to new tax regime but I hope you continue investing... 😃
https://www.desidime.com/discussions/can-i-send-money-to-my-ppf-account-using-rupay-cc?page=1#post_9188936
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Suggest you too discuss with a CA before switching. .
dhinchakrohit wrote:Me too will stop NPS and ELSS both, but need to discuss with CA to see if old regime still makes some sense for my case.
Yes bro, continuing. But won't invest in ELSS henceforth...Rest all equity mf are there na
Suggest you too discuss with a CA before switching. .
https://www.desidime.com/discussions/can-i-send-money-to-my-ppf-account-using-rupay-cc?page=1#post_9188939
@abhishek012 bro said, load payzapp, send to paytm wallet using uber/zomato, paytm money can be used to buy whatever the hell you want
The bold portion wasn't said by him though.
https://www.desidime.com/discussions/can-i-send-money-to-my-ppf-account-using-rupay-cc?page=1#post_9188940
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SnippierJoker wrote:
Me too will stop NPS and ELSS both, but need to discuss with CA to see if old regime still makes some sense for my case.
Suggest you too discuss with a CA before switching. .
https://www.desidime.com/discussions/can-i-send-money-to-my-ppf-account-using-rupay-cc?page=1#post_9188945
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dhinchakrohit wrote:4 lakhs exemption is hard to find unless you have a home loan
https://www.desidime.com/discussions/can-i-send-money-to-my-ppf-account-using-rupay-cc?page=1#post_9188964
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80C, 80CCC and 80CCD - 150k+50k = 2L
Section 80D (medical) - Self + Parents (25k+50k) = 75K
SD - 50K
HRA - Based on salary. 60K/ year for me ( lower end of what I can put as work from home)
Total deductions can be - 2L+50K+75k+60k = 3.85L
The only limiting factor is the salary you get and what you invest.
decideaim wrote:Not that hard to achive 4L without loan-
4 lakhs exemption is hard to find unless you have a home loan
80C, 80CCC and 80CCD - 150k+50k = 2L
Section 80D (medical) - Self + Parents (25k+50k) = 75K
SD - 50K
HRA - Based on salary. 60K/ year for me ( lower end of what I can put as work from home)
Total deductions can be - 2L+50K+75k+60k = 3.85L
The only limiting factor is the salary you get and what you invest.
https://www.desidime.com/discussions/can-i-send-money-to-my-ppf-account-using-rupay-cc?page=1#post_9188970
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Only thing one shouldn't do is give up on saving just because it's not needed for tax purpose.
SnippierJoker wrote:Still you'd have the freedom to invest wherever you want if you opted new tax regime.
Not that hard to achive 4L without loan-
80C, 80CCC and 80CCD - 150k+50k = 2L
Section 80D (medical) - Self + Parents (25k+50k) = 75K
SD - 50K
HRA - Based on salary. 60K/ year for me ( lower end of what I can put as work from home)
Total deductions can be - 2L+50K+75k+60k = 3.85L
The only limiting factor is the salary you get and what you invest.
Only thing one shouldn't do is give up on saving just because it's not needed for tax purpose.
https://www.desidime.com/discussions/can-i-send-money-to-my-ppf-account-using-rupay-cc?page=1#post_9188999
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decideaim wrote:
Still you'd have the freedom to invest wherever you want if you opted new tax regime.
Only thing one shouldn't do is give up on saving just because it's not needed for tax purpose.
Yepp, that is one good thing with New tax regime.
It frees up my 2L fund from NPS and ELSS to invest in better options.
I just wish they kept Health and Rent in the new tax regimes as they are a must have and not good to have type of deductions.
The thing that worries me is people I know talking about they don't need to invest anymore to save taxes and stopping SIP's and using that money to buy dumb stuff.
I know someone who is planning to buy a car that cost more then his annual income coz the 2L which he does not need to invest will cover its annual EMI.... 😄
Just hope they do not come to me to borrow money in a few years and can happily live in his car if it comes to that....😄
https://www.desidime.com/discussions/can-i-send-money-to-my-ppf-account-using-rupay-cc?page=1#post_9189122
decideaim wrote:@abhishek012 bro said, load payzapp, send to paytm wallet using uber/zomato, paytm money can be used to buy whatever the hell you want
The bold portion wasn't said by him though.
How to send to Paytm using payzapp?
https://www.desidime.com/discussions/can-i-send-money-to-my-ppf-account-using-rupay-cc?page=1#post_9189865
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SnippierJoker wrote:Add 10K for int on savings acct
Not that hard to achive 4L without loan-
80C, 80CCC and 80CCD - 150k+50k = 2L
Section 80D (medical) - Self + Parents (25k+50k) = 75K
SD - 50K
HRA - Based on salary. 60K/ year for me ( lower end of what I can put as work from home)
Total deductions can be - 2L+50K+75k+60k = 3.85L
The only limiting factor is the salary you get and what you invest.
https://www.desidime.com/discussions/can-i-send-money-to-my-ppf-account-using-rupay-cc?page=1#post_9189875
In response to OP - PPF can only be invested via NEFT from bank acct. However, there are options to transfer from rupay CC to bank via UPI/payzapp/uber/paytm etc.
Even in new tax regime PPF remains a viable safe investment option as the interest on PPF is 100% tax free. Present PPF int rate is 7.1%. For someone in 20% tax that works out to 8.88% and for someone in 30% tax it works out to 10.15%
https://www.desidime.com/discussions/can-i-send-money-to-my-ppf-account-using-rupay-cc?page=1#post_9191245
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SnippierJoker wrote:
The thing that worries me is people I know talking about they don't need to invest anymore to save taxes and stopping SIP's and using that money to buy dumb stuff.
I know someone who is planning to buy a car that cost more then his annual income coz the 2L which he does not need to invest will cover its annual EMI.... 😄
This is exactly why the government introduced and tweaked NTR... To boost consumption.
They are bringing out a health plan for APL income group on the lines of Ayushman Bharat. It should be on the table by end of this FY.
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