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How to save tax by contributing to the Public Provident Fund (PPF)?

Wednesday, January 9, 2013 by Indian Real Estate News

 

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Best Performing Mutual Funds

    1. Largecap Funds:
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Birla Sun Life Front Line Equity Fund
    2. Large and Midcap Funds
      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
    3. Mid and SmallCap Funds
      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
    4. Small and MicroCap Funds
      1. DSP BlackRock MicroCap Fund
    5. Sector Funds
      1. Reliance Banking Fund
      2. Reliance Banking Fund
    6. Gold Mutual Funds
      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund


PPF is eligible for tax deduction up to Rs. 70,000. So any amount up to Rs. 70,000 invested towards your PPF account will be eligible for tax deduction. The minimum investment in PPF is Rs 500 per year and the maximum investment is Rs 70,000 per year.

The unique feature of PPF is that in case of insolvency it will not be attached to the assets of the insolvent. So this is an attractive tax saving tool for business people in fluctuating and highly leveraged businesses. Withdrawals from your PPF account are allowed during certain years for specific purposes.

Summary of PPF Details
 

Return (p.a.)

8.6%

Risk

NIL

Lock In

15 years

Income from Investment

Interest earned is Tax Free

Maturity Proceeds

Exempt from tax.

NRI/PIO eligible

No

 

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