Public Provident Fund or PPF is without doubt one of the small saving schemes that guarantee substantial risk-free return. Most importantly, the risk-free return is earnings tax exempted. In reality, a PPF account holder can declare earnings tax exemption beneath Section 80C on one’s funding as much as ₹1.5 lakh in a specific monetary 12 months. However, it’s fascinating to know that the minimal quantity required to open a PPF account is simply ₹100. But, to maintain one’s PPF account lively, one must deposit at the least ₹500 in a single monetary 12 months. The PPF account holder can be suggested to know that she or he could make a most of 12 deposits in a single monetary 12 months.
Elaborating upon the minimal quantity required for opening a PPF account and the minim deposit required to maintain one’s PPF account lively SEBI registered tax and funding professional Jitendra Solanki stated, “For opening a PPF account one needs just ₹100 — the minimum amount required for opening a PPF account. However, this minimum amount required for opening a PPF account won’t be enough to keep one’s PPF account active. To keep one’s amount active, one needs to deposit minimum ₹500 in one’s PPF account in one financial year. So, after opening the PPF account, one need to make sure that its minimum PPF balance on 31st March of that financial year is ₹500.”
On what number of deposits in a single monetary 12 months Amit Gupta, MD at SAG Infotech stated, “One needs to note that one can do maximum 12 deposits in one’s PPF account. So, when one opens a PPF account, he or she needs to make sure that it would do a minimum of this much amount in one’s PPF account throughout the year so that he or she can maximise one’s PPF deposit limit.” The Managing Director of the SEBI registered agency stated that the easiest way is to make common month-to-month deposit in a single’s PPF account.
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