INSUBCONTINENT EXCLUSIVE:
PPF contribution, interest earned and maturity proceeds are all tax-free.PPF or public provident fund is one of the most popular small
For risk-averse investors, PPF is one of the most suitable schemes for savings towards retirement, say financial planners
PPF accounts have a maturity period of 15 years, which can be extended further
Apart from higher interest rates as compared to bank deposits, PPF contribution, interest earned and maturity proceeds are all tax-free
PPF contribution up to Rs
Tax experts say that PPF partial withdrawals also don't attract any tax
levels - investment, earning and withdrawal
All payments from PPF shall be exempt from tax under Section 10 (11) and partial withdrawals or premature closure are not exceptions," says
investors shall not be liable to pay any tax on the interest portion or the principal sum received on premature closure of the PPF account,"
PPF account at the end of the fourth year immediately preceding the year of withdrawal or the year immediately preceding the year of
AccountA PPF account holder can avail of loan facility in the third financial year, from the financial year in which the account was opened
A loan can be taken up to 25 per cent of the amount in the account at the end of the second year immediately preceding the year in which the
the PPF investor repays the first loan, a second loan can be obtained
This loan facility is available till the end of fifth financial year from the end of the financial year in which initial subscription was
PPF investor can take a loan only once a year.
