You will have to fill an application form along with which relevant documents stating your address proof, identity proof and income proof would also need to be submitted. A PPF account can be easily opened online. SOURCE: Pixabay What Is The Minimum and Maximum Amount One Can Deposit In A ...
Address proof, e.g. Aadhar card, ration card or electricity bill. If you are applying offline, you also require a signed cheque. Saving vs Investing Image source: Shutterstock Here’s How to open a PPF account Online Opening a PPF account online requires a savings account with a registered...
Public Provident Fund (PPF) scheme is a long-term investment option which offers an attractive rate of interest from time to time and returns on the amount invested. The interest earned and the returns are not taxable under Income Tax. One has to open a PPF account under this scheme and ...
There isan exemption of Rs 1,500 per child for two children in Income Tax for the parent. So you can invest Rs 15,000 earning 10% interest on each of your child’s name and get the interest tax free. When the child becomes an adult, the child income isnot clubbed with that of the...
savings under Section 80C of the Income Tax Act of 1961. You can claim tax deductions on the capital invested up to Rs.1,50,000. Furthermore, the PPF program is based on the EEE taxation paradigm. As a result, both the maturity amount and the earned interest are tax-free for ...