PPF Account Interest Rate: The maximum annual investment of Rs 1.50,000 can be made in the Public Provident Fund (PFF), and the government gives interest of 7.9 percent per annum on this.
The time of the year has come when most employers are busy in the exercise of depositing proof of savings and investment made in their offices during the current financial year ... One of these is the section of the Income Tax Act.
Savings and investments made under 80C, all of which are exempt from tax, including the amount deposited as insurance premiums, as well as interest on home loan installments. The amount of principal paid, the amount spent on children's education as tuition fees, the amount invested in National Savings Papers (NSC) and the amount invested in Public Provident Fund (PPF)...
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The total under this section You do not have to pay any tax on the amount up to Rs 1,50,000 per year, so the investment made under this section, together with saving your tax as of today's date, also gives you future financial security.
If you want to invest in Public Provident Fund (PPF), then remember these changed rules…
Today we're going to talk about one of the investments made in this item, PFF, and give information about its benefits ... A maximum of Rs 1.50,000 can be invested in each year's Public Provident Fund (PFF), and today's government interest rate of 7.9 percent per year is added to your savings ...
This account can be opened in any post office or select branches of banks, and the amount deposited in it is exactly 15 Years ..
The most important aspect of this is that this government scheme is in the EEE category, which means you get a tax rebate not only on the amount invested, but also on that amount.Interest is also tax-free, and no income tax is imposed on the whole amount received at maturity.
Modi government increases PPF, NCS and other small-scale savings schemes
But do you know how much you can deposit in these 15 years, the total amount you will receive and the total amount you can save from a PPF account ...?If a person keeps his PPF account full each year If he deposits a sum of Rs. 1,50,000, and if there is no change in the interest rate, he will receive a small amount of Rs. 43,60,517 at the time of the account's maturity on which he will not be required to pay any tax.Ie every 15 years You deposited a total of Rs 22,50,000 into the account while depositing Rs 1,50,000 a year, and now you will receive Rs 21,10,517 tax-free interest ...
Know when your PPF account gets better than the 5-year FD
But the most interesting aspect is that not only will you get this interest from your PPF account, but you will have saved a substantial amount of money even during the 15 years of investment... Yes, thanks to this investment of Rs 1,50,000 According to income tax rates, you also saved a maximum income tax of Rs 46,800 each year (if your income falls within the 30 percent tax slab)..Even if your income falls on the 20% income tax slab, you'll also receive less Rs 31,200 per low Can Save Years as tax.
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