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Public Provident fund
Dear Members,
from this year, my income is getting into taxable slab of income tax. please guide with reference to investment in Public Provident Fund (PPF). How in investment in PPF, expected returns and its benefit from taxation point of view.
Regards to all members.
Replies (2)
For investing in PPF u need to open a PPF account with State bank of India the maximum amount that u can deposit in a year is Rs. 70,000 and this will be exempt u/s 80c fo the Income tax act, 1961.
For return u will need to enquire at the bank while opening the account.
Withdrawl of this amount at subsequent period is completely exempt.
if you open SBI account you can also transfer funds online to your PPF account.
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