Hi Friends, Found below very useful information about PPF : PPF Account and PPF Interest Rate @ 8.7% Hope it helps
thanks for sharing... very informative...Shall i invest rs.1L as one time investment in PPf, cant contribute consecutive years???
yes, you can. PPF investment is always a good investment. You can take it as a retirement saving option
From what I know, you have to absolutely make annual contributions - minim 500 and max is now 1.5 lakhs. If you miss one year - you are fined.
is there any tax on maturity... I mean, lets say I invest 1L per year for 15 years.. after 15 years, this would be about 30L (as per some online calculators).. will I have to pay tax when withdrawing this amount. If so how much?
@indoc the money you invest in PPF is exempt from tax under Section 80C, the interest you earn on the investment is also exempt from tax.and wealth tax. And another thing that is interesting in this investment instrument, though it says 15 years period, you can extend another 5 years, provided you get it extended before the completion of the 16 year.. most of the other important points are in the link shared.