Updated Feb 13, 2021 | 13:06 IST
If we assume that the present interest rate of 7.1% on PPF remains constant in the long term, one can easily accumulate a hefty retirement kitty by the time of his superannuation. Here s how you can accumulate a tax-free retirement kitty of over Rs 1 crore through PPF
New Delhi: Public Provident Fund (PPF) is by far one of the most popular long term debt investment products available in India. One of the biggest advantage of PPF is that it offers guaranteed tax-free return, which you can not get in other long term investment instruments like NPS, mutual fund SIP. Although life insurance products offer tax-free returns, the return is not guaranteed and is very less compared to PPF, and return from NPS is not guaranteed but it is partially tax-free.
A good balance of having a majority of their capital in short & medium term and relatively lower-risk investments, with only excess capital in longer-term or higher risk investments is best
Updated Feb 06, 2021 | 06:09 IST
Presently, any payment from a provident fund set up under the Provident Funds Act, 1925 or any recognised fund set up by Central Government is exempted under section 10(11). Know if tax on PF interest also cover contribution to PPF account?
New Delhi: Union Budget 2021 has proposed to levy income tax on interest earned by an employee towards his/her contributions to the provident fund of over Rs 2.5 lakh per annum, starting from 1 April. In order to rationalise tax exemption for the income earned by high-income employees, it is proposed to restrict tax exemption for the interest income earned on the employees’ contribution to various provident funds to the annual contribution of Rs 2.5 lakh, FM Nirmala Sitharaman said in her Budget 2021 speech.
Senior citizens or people who have retired should have a portfolio that gives them both income and liquidity. Know how to strike the right balance between the two while investing
Updated Jan 13, 2021 | 06:26 IST
The income tax department also announced last year that it will issue only e-refunds. These refunds will be credited only to those accounts which are linked with Aadhaar, PAN and are pre-validated Filed ITR? Know how to check income tax refund status
New Delhi: Income tax return filing last date (January 10) has passed. People who have filed ITR and have paid excess tax are now looking for their refund to be credited in their account. Last year, the process of claiming income tax refund was tweaked by the Income Tax Department. In order to claim an income tax refund, apart from filing an income tax return (ITR), you have to ensure that you have pre-validate your bank account in which you want to receive the income tax refund to be credited.