PPF For Regular Income: How to get Rs 1,06,828 a month tax-free income from Public Provident Fund?
Public Provident Fund (PPF) is a small savings scheme that allows any residents of India, including salaried, self-employed, and pensioners to invest in this popular investment scheme for retirement planning. It currently offers an interest rate of 7.1%, unchanged since April 2020.
Established under the Public Provident Fund Act of 1968, the PPF scheme is designed to provide guaranteed returns to individuals along with tax benefits under section 80C of the Income Tax Act, of 1961. Individuals can open a PPF account at a post office or bank with a minimum investment of Rs 500. Let’s understand how can an individual get Rs 1,06,828 a month of tax-free income from Public Provident Fund.
Photos source: Pixabay/Representational
(Disclaimer: Our calculations are projections and not investment advice. Do your due diligence or consult an expert for financial planning)