Invest in PPF to get tax exemption

March 3, 2019
Invest in PPF to get tax exemption

Public Provident Fund (PPF) is considered as a good option for investors and best tax saving investment under section 80C. You should know, before investing in PPF like any other investment, the information about this scheme should be gathered. We will explain to you about PPF Investment Tips and tell you how much tax you can save under it and save your taxes with savings.

Know About PPF -

It is a saving scheme run by the central government of India, Open a PPF account at any national bank or post office. If you are not an employee of a company do not worry you can also open this saving account. It is for all private and government employees whether you are doing a personal profession, freelancer or working under a contract, you can still open a PPF account. Even if you do not have any earnings, you can still open a PPF account and save your money.

Maximum & Minimum Amount of PPF Saving/Investment Limit -

At the time of the opening of the PPF saving account under section 80C, you will have to put at least Rs. 500 per year in it. The maximum deposit limit is Rs 70,000 rupees. PPF has a lock-in period of 15 years. I.e. the deposit dice will be found after 15 years of opening the account.

How much I need invest in PPF to save tax -

It is to be understood here that the exemption limit of 80 c in income tax is Rs 1.5 lakh. Discounts received under PPF also come under 80C. That is, you will get a discount of up to 1.5 lakhs in total on all your investments. If you have not invested anywhere else and you want to invest only in PPF, then it is a different matter. However, this is not considered right. Even then in this situation, you will have to deposit between 12-15 thousand rupees every month. This will increase the amount to Rs 1.5 lakh by the end of the year.

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