PPF Tax Exemption: Along with tax exemption in PPF, other benefits are also available. The amount received at the time of maturity also does not have to be taxed.
PPF Tax Exemption: Investing in Public Provident Fund is considered a better and safer option. There is a tax exemption on investing in PPF. Also, there is no tax to be paid on the amount received at the time of maturity after 15 years. There are many other benefits of this scheme, about which very few people know. Let us tell you, people investing in PPF can increase the investment period by 5-5 years after every five years after 15 years. That is, investment can be continued in it even after 15 years.
Financial experts say that if you want to continue investing in your PPF account even after the maturity period of 15 years, then you have to inform the bank or post office for the same. Wherever your PPF account is located, a Form H has to be filled and submitted. Only after this you will get interest on your investment, otherwise not. If a PPF account holder decides to continue his/her PPF account with fresh contributions for a period of five years, he/she can withdraw up to 60% of the account balance at the beginning of each extended period.
Best way to deposit Retirement Fund
Financial experts say that PPF is a better medium for long-term investment. Through this, the management of retirement fund can be done easily. If a person deposits Rs 1 lakh annually and gets an average interest rate of 7.5 per cent, then after 15 years he will easily deposit Rs 31 lakh. At the same rate of interest, he will double that amount in less than 10 years.