BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Detailed explanation-1: -The government sets the Public Provident Fund (PPF) interest rates every quarter. For the quarter that ends on 31 March 2022, the interest rate is set at 7.1% p.a. The minimum and maximum deposits that can be made in the account every year are Rs.500 and Rs.1.5 lakh, respectively.
Detailed explanation-2: -PPF is known to be completely exempt from tax. The PPF tax exemption applies to the amount deposited, to the interest, and the maturity amount. So consider this vehicle completely tax-free for as long as you keep investing in it. In conclusion, PPF is one of India’s safest investment options.
Detailed explanation-3: -The Public Provident Fund (PPF) is a savings-cum-tax-saving instrument in India, introduced by the National Savings Institute of the Ministry of Finance in 1968. The main objective of the scheme is to mobilize small savings by offering an investment with reasonable returns combined with income tax benefits.