Friday, September 30, 2022

PPF Calculator: By investing Rs 1.50 lakh annually in PPF, you can make such …

PPF Calculator: Public Provident Fund (PPF) scheme is counted among the very safe  schemes for investors. Also, there is a great return on investment in this scheme. The money that is invested in PPF (Public Provident Fund) is not invested in the stock market. In such a situation, the volatility in the market does not affect the investment made in PPF. 

Under 80C of the Income Tax Act, there is a tax exemption on investment in PPF up to Rs 1.5 lakh annually. Also, there is no tax to be paid on the interest earned after maturity. One can invest up to Rs 1.5 lakh annually in PPF account which can be done on monthly or quarterly or yearly basis. 

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Interest rates on PPF fixed to increase
At present, 7.1 percent interest is available on PPF. But after increasing the repo rate of RBI, when all the banks are increasing the interest rates on FD, then at the end of September, the government will review the interest rates of savings schemes, then the interest rates of PPF can be increased. In 2015-16, PPF used to get 8.7 per cent interest. Investors are losing at that level. 

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In the PPF account, investors can invest continuously for 15 years. And if the investor does not need the money, then they can also extend their PPF account after 15 years based on the block period of five five years. Thus they can invest in PPF for 35 years. For this PPF account submission form has to be filled. 

How to make Rs 5 crore If you continue, you will get a total of Rs 2.27 crore. In which Rs 52,50,000 will be your investment, on which Rs 1,74,47,857 will be available as interest, on which no tax will have to be paid. And if you continue investing in PPF for 45 years till your 70 years of age, you will get Rs 4,72,99,295 (4.73 crore) on your investment of Rs 67,50,000. And if the government hikes interest rates on PPF, the returns can cross Rs 5 crore. 

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