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Home FINANCE Tax Saving: Great opportunity to save tax, lakhs of rupees can be...
  • FINANCE

Tax Saving: Great opportunity to save tax, lakhs of rupees can be saved every year, have to do this work

By
Pravesh Maurya
-
June 20, 2023
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    PPF
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    The maturity of PPF Scheme is 15 years. People running this account can invest minimum Rs 500 and maximum Rs 1.5 lakh in PPF account every financial year. The more investment people will be able to make in a financial year, the more tax benefits people will be able to get under 80C every year.

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    Income Tax: People also have to pay tax on their income. Every year people have to file income tax return. At the same time, due to taxable income, people also have to pay tax. Although many such schemes are also going on, through which tax can also be saved. Today we are going to tell you about one of those schemes, which can be useful in tax saving. Let’s know about it…

    PPF scheme

    The name of the scheme we are talking about is Public Provident Fund (PPF). This scheme is being run through the Central Government. In this scheme people can invest some amount every year. People get interest on the invested amount and also tax can be saved every year on the invested amount. The interest received under this scheme is reviewed every three months. At present, 7.1 percent interest is being given under this scheme.

    A maximum investment of Rs 1.5 lakh can be made every year in the tax benefit PPF scheme. Along with this, the benefit of this scheme is available in section 80C on filing ITR under the old tax regime. If a person files ITR under the old tax regime, then through the PPF scheme, a tax benefit of up to Rs 1.5 lakh can be availed under Section 80C.

    The benefit under 80C, while the maturity of the PPF scheme is 15 years. People running this account can invest minimum Rs 500 and maximum Rs 1.5 lakh in PPF account every financial year. The more investment people will be able to make in a financial year, the more tax benefits people will be able to get under 80C every year.

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    • PPF account
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      Previous articleHouse Rent Rules: Know the rules before renting your house, there will never be a dispute between the tenant and the owner
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      Pravesh Maurya
      Pravesh Maurya
      https://www.rightsofemployees.com/
      Pravesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @rightsofemployeescom@gmail.com
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