Maximizing your returns using the increased PPF limit
The finance minister increased the maximum investment ceiling in PPF (Public Provident Fund) from Rs 1 Lakh to Rs 1.5 Lakhs per financial year in the last budget. This makes the already popular PPF more attractive. The PPF is one of the very few investment avenues which still enjoys the EEE benefit – the investment is exempt from tax and eligible for tax rebate, the interest is tax free, and the maturity amount too is tax free.
Some lesser known facts about PPF
The Public Provident Fund (PPF) is one of the most popular long term investment options in the fixed income category due to its attractive features like income tax rebate of up to Rs 1 lakh of investment per year u/s 80 C, tax –free interest of 8 % pa and the maturity amount being tax free u/s 10 ((10) D).While these are the commonly known facts about the PPF, here are some lesser known features you should be aware of –
