PPF New Rules 2022 | 5 Key changes in PPF RULES
Автор: Your Schemes
Загружено: 2022-10-24
Просмотров: 858
Описание:
Public Provident Fund
Investment Limits A minimum of Rs.500.00 subject to a maximum of Rs.1,50,000 per annum may be deposited.
Original duration is 15 years. Thereafter, on application by the subscriber, it can be extended for 1 or more blocks of 5 years each.
The rate of interest is determined by Central Govt. on quarterly basis. At present it is 7.10% per annum with effect from 01.04.2020.
Loans and withdrawals are permitted depending upon the age of the account and balances as on the specified dates.
Income Tax benefits are available under Sec 88 of IT Act.
Nomination facility is available in the name of one or more persons. The shares of nominees may also be defined by the subscriber.
The account can be transferred to other branches/ other banks or Post Offices and vice versa upon request by the subscriber. The service is free of charges.
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