Date: 8/10/2005
Christian Sonia Bans, HUF and trusts from investing in PPF The christian Antonia Maino alias Sonia Gandhi using the christian bureaucrats is removing the facilities provided for the undivided Hindu families, in the form of investment option in small savings schemes. This is being done through the backdoor. /// Her aim is to remove these facilities so that more Hindus will be available for conversion. The P. Chidambaram Chettiar as Finance Minister is a figure head and a yes man to Sonia. The Chettiar failed to see the long term implications of such an action. His wife Nalini Chidambaram Chettiar is defending an evangelist Ron Watts on business visa operating in India for the last 8 years converting more than 5 lakh Hindus. Because of Nalini, Ron Watts continues to avoid arrest and deportation, in spite of being served the deportation orders on him. /// Now one can see how and why Sonia selects dumb fellows to run the UPA government. /// The HUF comprises all persons lineally descending from a common ancestor including their wives and unmarried daughters. The PPF is a quasi long-term savings scheme aimed at providing old age income security to people including those in the unorganized sector. HUF is separately taxed on its income and any sum received by a member of a Hindu Undivided Family from out of the income of the family as well as the income received by an individual member from out of the income of the impartible estate is tax exempt. The Public Provident Fund is a popular form of tax saving investment because of its low risk and excellent return. This account maybe opened up by an individual or Hindu undivided family in his name or in the name of his family members. The Public Provident Fund has 15-year tenure and offers 8 percent interest. The contributions into the fund can be a maximum of Rs 70,000, in lump sum or in monthly installments. The withdrawals are not taxable. Deposits are eligible for a tax rebate of up to 30 per cent under Section 88 of the Income Tax Act. PPF account cannot be attached by the courts in the event of any debt liability. The interest is completely tax-free and the amount in the account is not included for wealth tax purposes. /// Charitable institutions, HUFs and trusts were finding it attractive to park their fund instruments in PPF, despite the long lock-in period of 15-years. Closing of the PPF window to the Hindu Undivided Families is a treachery by the UPA government which is controlled by the Christian Sonia. This ban was done under a notification issued by GOI on May 13, 2005.regulating the scope of investment in various small saving schemes. Ban on HUFs and trusts, has hit the small savings by Hindus and it can be seen from the sharp drop of small savings growth rate. Last year, the small savings grew at a pace of over 48%. and now it has dropped to just 6.5% and this 6.5% is mainly on account of the rise in subscriptions to the senior citizens savings scheme. The ban is against Hindu temple trusts and Hindu Undivided Families. /// This also gives a clear indication of how dangerous; it is to have christian government officers in cadres like IAS, IRS, IPS etc. The PPF which used to be a popular savings instrument has dropped by nearly 7%, at the end of the first quarter of 2005. Based on the net small savings collections of Rs 22,238.8 crore up to the end of June 2005, one can assess the impact of ban on Hindu community. The communists were able to control the interest rates of the provident funds, but we Hindus are not even aware of the Christian manipulation that is going on against Hindus in the UPA government This needs to be protested and the government should be made to withdraw the notification. I request all Hindus to agitate against this unjust decision by the government. Kindly circulate this to all concerned. .........................000000000
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