![]() So, should you transfer your PPF account or open a new one? Let us understand in detail.Īn individual cannot have more than one PPF account. Original bank does not offer this facility. You have zeroed in on Axis Bank since it offers you the option to open a PPF account and invest online every month. Since you started earning you continued the same account and contributed towards it for your tax-savings investments. Let us assume your parents opened a Public Provident Fund (PPF) account for you as a minor. It is also possible for parents to open a PPF account in the names of their minor children and claim tax exemption on the deposits. After the lock-in period, you can extend it in blocks of 5 years. The PPF has a lock-in period of 15 years. ![]() ![]() If you are yet to do your tax-saving investments for this year, invest in PPF now. This means that all deposits made, the returnsĮarned, and the corpus when withdrawn are tax-free. It is immensely popular with investors because it falls under the EEE (exempt-exempt-exempt) tax category. Public Provident Fund (PPF) is an investment scheme sponsored by the Government of India. Pradhan Mantri Jeevan Jyoti Bima Yojana.Commercial Vehicle & Construction Equipment Loan.
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