You have 3 options. One is to close the account and take all the money accumulated in the PPF account. Second option is to extend it by 5 years without contributions. The third and final option is to extend it by 5 years with contributions. I remember I once received a query from a ...
For calculating the PPF interest, we will be using the following dataset. Here, we have the total Balance, Deposits from April to March, and an Interest Rate of 5%. • For the monthly interest rates use the following formula =IF(C4=”Before 5th”,($A$2+B4)*(D4/12),($A$2)*(...
As human beings, we all take risks in life. There is no life without risks. Yet, many of us do not take even minimum risks and in turn will waste time and many important opportunities. The concept of calculated risks tends to only minimize such mistakes
Not many individuals know, that the interest on the Public Provident Fund (PPF) is calculated on lowest balances in account between 5th and last day of the month. In simple terms, what this means is that if you deposit the amount after the 5th of the month, you will lose interest for ...
How is economic growth measured in the U.K.? What happens in exponential growth as the population gets larger? How is population density calculated? How do the saving rate and population growth affect the steady-state income level in the Solow model? Elucidate with the help of diagrams. ...
Interest is calculated at the rate of 1% per month or part thereof for the period of delay, and it is calculated on the amount of tax that is unpaid. Section 234B of the Income Tax Act deals with the interest penalty that is charged for non-payment or short payment of advance tax. ...
Explain the multiplier? How is it calculated? Why is the multiplier related only to consumption spending? Describe the process that occurs when there is a decrease in the supply of money. How does it affect the economy? What is a recessionary gap? What fiscal policy might close ...
NAV is the value of each unit of the mutual fund on a given day, calculated by dividing the total value of the fund’s assets by the number of units outstanding. Rupee-Cost Averaging: SIPs tend to spread the investment over time and thereby average out the cost of units purchased...
Investment income such as interest and rent isconsidered ordinary incomeand will generally be taxed according to your ordinary income tax rate. ... Qualifying dividends are also taxed at long-term capital gains rates (dividends that don't qualify for long-term capital gains rates are taxed at ...
ThoughRs 2.5 lakh Rule is not applicable to PPF, those who also make additional contributions viaVPF, will come under similar EPF tax implementation. Suppose your EPF account balance at the end of FY2020-21 was Rs 25 lakh. Now your EPF Contribution is Rs 20,000 per month. But you also...