How safe are Fixed Deposits in Nationalised Banks?

I am aware of the fact that Fixed Deposits in India are RBI insured for 1 lakh Rupees. Does that mean if I deposit 20 Lakhs in a bank and if that bank goes bankrupt, I will get 1 Lakh back??

Assume that I have 20 lakhs in hand where do you think I can go and deposit?

How to file ITR for first time (Only Interest income) for Income approx 1.0 Lakh PA?

I am a housewife with only Interest from FD & NSC & KVP intt as income(Intt Less than 1.8 Lakhs PA) owned by me in Single /Joint Names.
I am dependent on my husband.
I am having PAN CARD.
I have never filed ITR.
I want to file ITR with only income approx 1 L from Intt on FDR and no other income, knowing very welll that ITax would be NIL.
Kindly help me –a) How to register for online with IT deptt & Which form to fill b) How & where to fill On line. c) How & where to mail the Hard Copy.

Sneha Dey

NRI.Besides Salary income also have short term capital gain.Tax liability, forms and challans for e remittance

I am working in Middle East since April-2007. My current salary is INR.12 Lakhs per annum and is totally non taxable.
Apart from above income, I have made a short term capital gain of about INR 2.5 Lakhs by trading in Indian stock markets in this fiscal year so far.

My annual savings includes the following.

1. Public provident Fund1.00 Lakh
2. LIC premium0.60 Lakh
3. LIC Pension scheme premium0.10 Lakh
4. Tax saver ULIP 0.78 Lakh

My queries are:

1.What is my present tax liability?
2.If there is any liability, how and where do I remit the tax?
3.Which form is to be used for filling the return?

Value of money after 25 years !!?

i am 30 yrs old. I am planning to invest 70k in PPF every year and after 25 years it will come around 50 Lakhs. I want to know if there will be any value for 50 lakhs 25 years down the line. Other than tax benefit does PPF really gives us social security with such money after a very long time. %0 lakhs looks a big amount now, but after 25yrs, i am just confused. WIll it have a value.

Kindly place ur advice and suggestions. Does Public provident fund(PPF) make a good investment decision or is it just a tax saver with no useful value money when u get it back after 25yrs.