PPF investment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 February 2010
The following is the breakup of my investment for Rs. 1,00,000 u/s 80C for FY 2009-1010:
Pension Plan Premium 36052
ULIP 24000
LIC premium 10000
PPF 30000
Therefore, my investment u/s 80C is completed for FY09-10
I have some surplus funds in my Savings Account. Instead of having the money lie idle (and fetch only 3.5% interest), would it be wiser to invest this surplus (Rs 40,000) in my PPF acct?
I do understand that U/S 80C, i will be getting the benefit for 80C only on the Rs 30000 i have already put in my PPF account, but can i put the extra 40,000 (i know the total limit for PPF in a year is Rs 70,000) just so that i use the funds properly and not allow them to remain idle in a SB acct?
feedback on this would be highly appreciated. thank you
Pension Plan Premium 36052
ULIP 24000
LIC premium 10000
PPF 30000
Therefore, my investment u/s 80C is completed for FY09-10
I have some surplus funds in my Savings Account. Instead of having the money lie idle (and fetch only 3.5% interest), would it be wiser to invest this surplus (Rs 40,000) in my PPF acct?
I do understand that U/S 80C, i will be getting the benefit for 80C only on the Rs 30000 i have already put in my PPF account, but can i put the extra 40,000 (i know the total limit for PPF in a year is Rs 70,000) just so that i use the funds properly and not allow them to remain idle in a SB acct?
feedback on this would be highly appreciated. thank you
CA Prashant Gupta
(Expert)
03 February 2010
sure you can invest 40,000/- in PPF. there is no restriction.
as my view if you want secure investment then PPF is best. So invest in PPF. But you can't withdraw money from PPF for begining 5 years after then when you need you can withdraw money
as my view if you want secure investment then PPF is best. So invest in PPF. But you can't withdraw money from PPF for begining 5 years after then when you need you can withdraw money
03 February 2010
better to get interest @ 8.5% than 3.5%
CA Ravi Sisodia
(Expert)
03 February 2010
Agree with expert, PPF is good option
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