| Vallur Sundararaman , Indraneal Balasubramanian and 14 others posted in Asan Ideas for Wealth . Vallur Sundararaman March 20 at 3:03pm Why this 'crying foul' and lamenting on PPF interest reduction ? Subscription up to a maximum of Rs 1,50,000 annually earns tax free interest, credited annually on 31 March. This apart, under Chapter VI 80C, the savings in tax (depending on the tax slab applicable) could be between 10.3% to 30.9 % and this when taken in to consideration one realizes a sizeable return as tax saving and interest interest at least for that year's subscription and for every year's subscription for only the year when subscribed.. To the top tax bracket, tax payer, this is indeed a sizeable amount By partial or full withdrawal when the 15 year term closes or is extended in groups of 5 years (purely optional) one gets to have the money close by.Also options for loan is available at 1% over the interest rate.. Repayable of course. If one has no tax liability, PPF may not be the best. However it is free of any court attachment in any matter.. In fact all schools should know and bring to the attention of the parents that PPF if opened at an early age ( say up to 6 years of age) , the 15 year gestation period will be over or nearly so around the time when the child starts earning. With the money close at hand with most years of 15 having gone by one can ensure the amount is close by and if renewed for 5 years at a time, it will remain so close by for any requirement. There now no agents who would advice PPF as commission payment has been discontinued seeing the popularity. Like Comment | | | | | | | | | | Vallur Sundararaman, Indraneal Balasubramanian and 14 others posted in Asan Ideas for Wealth. | | |  | | | | | Why this 'crying foul' and lamenting on PPF interest reduction ?
Subscription up to a maximum of Rs 1,50,000 annually earns tax free interest, credited annually on 31 March. This apart, under Chapter VI 80C, the savings in tax (depending on the tax slab applicable) could be between 10.3% to 30.9 % and this when taken in to consideration one realizes a sizeable return as tax saving and interest interest at least for that year's subscription and for every year's subscription for only the year when subscribed.. To the top tax bracket, tax payer, this is indeed a sizeable amount
By partial or full withdrawal when the 15 year term closes or is extended in groups of 5 years (purely optional) one gets to have the money close by.Also options for loan is available at 1% over the interest rate.. Repayable of course.
If one has no tax liability, PPF may not be the best. However it is free of any court attachment in any matter..
In fact all schools should know and bring to the attention of the parents that PPF if opened at an early age ( say up to 6 years of age) , the 15 year gestation period will be over or nearly so around the time when the child starts earning. With the money close at hand with most years of 15 having gone by one can ensure the amount is close by and if renewed for 5 years at a time, it will remain so close by for any requirement.
There now no agents who would advice PPF as commission payment has been discontinued seeing the popularity. |
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