PPF PARTIAL WITHDRAWAL
7.1% PPF interest rate or 8.2% returns from Senior Citizen Savings Scheme (SCSS): Where should someone in 20% tax bracket invest?
Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
Can NRIs continue to operate their PPF accounts?
NRIs navigating PPF accounts encounter restrictions and guidelines, from tax benefits to closure procedures. Understanding these rules is crucial for managing accounts effectively while maximizing investment returns and complying with regulatory requirements.
Tax-saving investment: 7.1% interest in PPF or 8.25% returns in VPF; which is a better option to save tax this year?
Tax-saving investment ideas FY23-24: PPF has been a go-to option for traditional investors to save tax while planning for retirement. Is there any other option that offers higher returns, lowers your income tax outgo, and saves money for long-term goals? Yes, Voluntary Provident Fund (VPF). How does it VPF fare when compared to PPF Public Provident Fund (PPF) or Voluntary Provident Fund (VPF) — which is a better option for you to save tax in the financial year 2023-24.
Tax saving ideas: Use these 6 financial, banking instruments to save taxes
With an emphasis on banking products, below are some financial instruments which can be used as investment and tax saving purpose.
Best tax saving mutual funds or ELSS to invest in 2024
Tax -saving mutual funds or Equity Linked Savings Schemes (ELSSs) help you to save income tax under Section 80C of the IT Act. You can invest a maximum of Rs 1.5 lakh in ELSSs and claim tax deductions on your investments every financial year. Are you interested?
Tax-saving tips: 7 lesser-known investments, expenses eligible for tax breaks
Apart from popular tax deductions like 80C, 80D, 80G, there are lesser-known tax breaks. Here is a look at 7 such tax-saving options to choose from.
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PPF taxation: Why the Public Provident Fund is a safe option to save tax; 5 things to know
Tax-saving investments: PPF offers tax exemptions at the time of investment, accrual, and withdrawal. It has a current interest rate of 7.1% per annum and a maximum deposit limit of Rs 1.5 lakh per financial year. PPF accounts can be extended indefinitely in blocks of 5 years. Additionally, it is advisable to diversify savings between PPF and equity investments for a balanced portfolio.
Post office schemes new rules 2023: Major changes made to PPF, POTD, POMIS, Senior Citizens Savings Scheme, other small savings schemes
The government has made various changes under small savings schemes in the year 2023. Here we have listed some of the major and important changes made by the government.
PPF account: Nine important Public Provident Fund account rules and benefits
PPF: Here is a look at important rules you should know about the Public Provident Fund.
PPF withdrawal: Eligibility, documents needed and process explained
PPF subscribers can make one partial withdrawal per year. The withdrawal amount is subject to certain conditions. Depending on the purpose of withdrawal, the account holder may need to provide supporting documents, such as medical bills for medical treatment, or a wedding invitation
How to extend PPF account after it matures; three options to consider
PPF account matures after 15-year lock-in term. But what about once it reaches maturity? What choices are available to you if you wish to keep using your PPF account?
What is the PPF interest rate for July-September quarter of FY 2023-24
The finance ministry made this announcement via a circular issued on June 30, 2023. The interest rates of schemes like the 1-and 2-year post office time deposit, 5-year recurring deposits have been hiked.
PPF or Sukanya Samriddhi Yojana: Where should you invest?
Only parents of a girl under the age of 10 years can open an SSY account. There is no such restriction for a PPF account.
Post Office Schemes latest Interest Rates in India for 2023
Post office schemes interest rates: These are popular small savings schemes as they are backed by the central government and the returns here are fixed and guaranteed.
How to pick the right nominee for life insurance, bank account, PPF, EPF, mutual funds, stocks
While a nominee is only a custodian of your assets, choosing the right one can ensure that your legal heirs get their inheritance rightly and on time.
Higher interest rates see money flowing to post office schemes
With the government increasing deposit rates on several small savings postal plans, there is high interest among investors in this financial year. Many postal products give investors an opportunity to earn up to 120 basis points more than bank deposits.
Was PPF interest rate hiked for Apr-June 2023 quarter? Latest Public Provident Fund rate
For the quarter from April to June 2023, the government has increased interest rates on a number of small savings schemes by up to 70 basis points.
New small savings scheme for women, Mahila Samman Savings Certificate, launched
Mahila Samman Savings Certificate: A new small savings scheme has been announced in the Budget 2023.
How to withdraw PPF money from account in bank? Step-by-step guide
If you wish to withdraw money from PPF account either partially or in full, you need to submit Form C at the bank where the PPF account was opened. Here are the steps you need to know to withdraw money from your PPF account in banks
9 tax saving investment options for FY 2022-2023
The last date to complete tax savings for current financial year is March 31, 2023. If an individual opts for old tax regime in FY 2022-23, then ensure that you have made specified investments under section 80C to save tax. Here are 9 tax saving investment options for FY 2022-23.
When does EPF withdrawal become taxable?
Though the biggest USP of the Employees' Provident Fund is its EEE tax status, however, there are certain instances when EPF can become taxable. Here is a look at those circumstances when you are required to pay tax on EPF whether at the time of making contributions or at the time of withdrawal.
Loan against PPF: How to take loan against Public Provident Fund account
Public Provident Provident Fund (PPF) account holders can avail loan facility in case of cash crunch situation, if they meet the eligibility.
What is the latest PPF interest rate?
The government has not changed the interest rates on small savings schemes like the PPF. PPF interest income is totally tax-free.
PPF scheme: Here are 10 things you should know
Public Provident Fund, commonly known as PPF, is a fixed income investment product that is used for tax-saving purposes by individuals. Though the USP of PPF is the Exempt-Exempt-Exempt tax status, there are 10 other things that an investor should know about it.
ELSS, NPS, PPF: where should you invest to save taxes under Section 80C?
The last-minute tax planning is underway in March. Many prospective investors ask the same questions every year to confirm their choice.
How to choose the best tax saving plan under the old tax regime
There are various ways to save tax under the old tax regime. However, the question arises of what should be the best tax saving plan for you and to meet financial goals such as retirement, buying a house etc. Here is how you should choose the best ways to save tax for the current financial year.
PPF, NPS, SSY: Here's why you should make minimum deposit in these tax savers before March 31
Here is a look at the minimum amount you need to invest in tax-saving schemes to keep them active and what happens if you do not make the minimum contribution.
Want to invest in PPF? 5 things you should know
Interest is accumulated at the rate of 7.1% (current quarter) and is exempt from tax.
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