PPF tax tool

OneThatGotAway

Well-Known Member
#1
Since this scheme was launched to encourage savings across income classes, minimum deposit requirements are very low and affordable. They are also tax-free accounts, easily accessible, safe (being backed by the government) and simple to understand, making them a popular investment avenue for a large majority of individuals in India.

PPF accounts can be opened at any nationalised, authorised bank and authorised branches / post offices. PPF accounts can be opened at specific private banks as well. These accounts can be opened by filling out the required forms, submitting the relevant documents and depositing the minimum pay-in at such branches/offices that have been authorised for the same.
I didn;t knew what ppf was untill now . ppf canbe started with R.s 500 as min amount and max amount is 150000....

Suppose goku works in Animation industry and gets salary of R.s 400000 yearly
.If he decides to open ppf account and invest max limit value i.e 150000
then after 15 yrs he will get good amt that too tax free

Term := 15 yrs
amount per year investing :- 150000

https://www.bankbazaar.com/saving-schemes/ppf.html

click above to see what is ppf


https://www.icicibank.com/Personal-Banking/investments/ppf/ppf-calculator.page

so in 15 yrs period time goku invested R.s 2250000

and on maturity he gets

Maturity value is
46,75,910.00

Al TAx free so not bad :clapping

So on year basis 400000 -150000 = 250000
250000 is below tax slab
so goku pays 0 tax money Total saving :xD
 
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