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PPF Benefits Are So Useful For General Public And You Should Know About It

PPF Benefits Are So Useful For General Public And You Should Know About It
Written by Arindam
PPF Benefits Are So Useful For General Public And You Should Know About It

PPF Account: Public Provident Fund account not only gives good return on your investment but also works to grow your money continuously. It also has the advantage of compounding. So you should think about opening a PPF account. This account is different in the sense that it can be opened by any Indian citizen. This is a very good saving instrument for the public and through this you can accumulate a good corpus over a long period.

Best interest means higher returns
Interest rates for PPF accounts are issued by the Government of India every quarter and they are increased or decreased. At present, interest of 7.1 percent is being available on PPF account, which is seen as better than other investment instruments of banks or post offices.

There are other tax benefits as well
The amount invested in the PPF account offers the benefit of tax deduction of up to Rs 1.5 lakh. Tax exemption is available on both the interest earned on it and the maturity amount, so it is a good tax exemption option not only at the time of maturity but also annually. It is considered as a good return product due to its following Triple E (EEE) model of taxation.

Best partner for 15 years
The tenure of PPF account is 15 years and on its maturity, withdraw the taxable amount. However, if you want to run the account further, then you can also choose the option to extend it for 5 years.

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Arindam

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