PPF Account Interest Rate: The maximum investment of Rs 1,50,000 per year can be made in Public Provident Fund (PFF), and on this, the government gives 7.9 percent interest per annum.
new Delhi:
The time of the year has come when most of the jobbers are busy in the exercise of depositing the evidence of savings and investment made in the current financial year in their offices… One of these is the section of Income Tax Act. Savings and investments made under 80C, on which all are exempted from tax, and this includes the amount deposited as insurance premiums, along with interest in home loan installments. The amount of principal paid, the amount spent as tuition fees for children’s education, the amount invested in National Savings Papers (NSC) and the amount invested in Public Provident Fund (PPF) … 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, along with saving your tax in today’s date, also gives you financial security in future.
If you want to invest in Public Provident Fund (PPF), then remember these changed rules…
Today we will talk about one of the investments made in this item, PFF, and will give information about its benefits … A maximum of Rs 1,50,000 can be invested in Public Provident Fund (PFF) every year, and on this the government today Interest rate of 7.9% per annum, which gets 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 Year The you get a back interest … The most important aspect of this is that this government scheme is in the EEE category, which means that you not only get a tax rebate on the amount invested, but also on it. Interest is also tax free, and there is no income tax on the entire amount received at the time of maturity.
Modi government increases interest rate in PPF, NCS and other small savings schemes
But do you know how much you will be able to deposit in these 15 years, the total amount you will get, and the total amount you will be able to save from a PPF account…? If a person keeps his PPF account full every year If he deposits a sum of Rs. 1,50,000, and if there is no change in the interest rate, then at the time of maturity of the account he will receive a small amount of Rs. 43,60,517, on which he will not have to pay any tax. Ie every 15 years You deposited a total of Rs 22,50,000 in the account while depositing Rs 1,50,000 a year, and now you will get tax-free interest of Rs 21,10,517 …
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 significant 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 have also saved a maximum income tax of Rs 46,800 every year (if your income falls in the slab of 30 percent tax)… even if your income falls in the slab of 20 percent income tax, you will also get less Rs 31,200 per low Can Save Years As Tax…
Let us see how much interest is earned by depositing the entire amount in PPF account for 15 years…
