EPF, PPF interest is tax-freeByTeena Jain
Now it varies each quarter. It’s 7.1% right now. Since interest earned is tax free, that is equivalent to about 10% return on a bank FD assuming you pay 30% tax. That’s insane return on a low-risk investment. PPF money is “your” money. In most cases no court can ask to se...
Managing Debt and Liabilities: Financial planning focuses on managing and reducing debt effectively. It involves assessing current debts, understanding interest rates, and creating strategies to minimize debt burdens. Individuals can improve their financial stability by implementing debt management techniques ...
Mutual funds are prominently known to provide maximum returns compared to the PPF, and the returns are not fixed here.Returns PotentialThe annual rate of interest given on the PPF account is around 8% generally. The returns would be fixed, and you will earn that applicable interest annually ...
Bank deposits are generally considered low-risk, and the specific interest rates can fluctuate depending on the deposit term and the bank’s guidelines. Additionally, there are various government-sponsored fixed income bonds: Public Provident Fund: The Public Provident Fund (PPF) is a government-...
Sources used for this article The Public Provident Fund Scheme, 1968 DEA notification for revision of interest rates on 31 December, 2019 PPF accounts held by Non Resident All sources checked as of 2 January, 2020 verifying this document{:/comment} *Please see...
The exchange rate is the: A) ratio between imports and exports. B) price of one country/s currency expressed in terms of another country's currency. c) opportunity cost of pursuing a nation's comparative advantage. d) interest rate that is charged on risk ...
It is vital to know that there is no tax levied on the interest earned from these accounts, i.e. they are tax exempt, and they are also easily repatriable, i.e. transferable. These accounts can be jointly opened with close relative Resident Indian on Former or Survivor basis. ...
What is one example of the government limiting individual rights to protect the public interest? (a) What is an externality? (b) Give an example of a positive externality and a negative externality. What is a time deposit? Give an example. What are some examples of deadweight losses outside...
Build a strong financial foundation –Individuals make investments to increase their wealth. This implies that people gradually invest their savings after they save them. The investment proceeds, whether they be dividends or interest, can be reinvested in the same financial instrument or even something...