I Would like to share information about Public Provident fund (PPF) today. I know that this is forum for anlon IPO but forget me for this mistake. Current ROI on PPF is 7.1 percent If a person invest Rs 150000 per annum in the PPF account for 50 years in a new born baby account then at the age of 51 total investment will be 150000 × 50 years = 75 lakhs and interest earned will be 6 crores. Total corpus will become 6.75 crores. Interest on PPF income is tax free. On 51st year one can get 47.9 lakh tax free interest income per annum. This income is guaranteed but sub to interest rate fluctuation. In these corona times also PPF interest rates were highest at 7.1 % against FD which were 4 to 5 %. If you have a new born baby in your family then you can think of investing in PPF Account of that baby. So that he or she can read the benefits of your investing. I have started investing in my child name in PPF hope you too will start investing. You can also get tax benefits by investing in PPF based on your income slabs from 5% to 33.33% Happy Investing. Pls share this info with your friends and loved ones.
19.1. PLAZA| Link| Bookmark|
December 25, 2022 8:11:21 AM
IPO Guru (2400+ Posts, 1300+ Likes)
Perfect but total contribution in one financial year including minor childeren alongwith parent shouldn't more then maximum limit. Presently it is 150000.
PER PERSON IT IS 150000 HOWEVER INCOME TAX BENEFITS ARE UPTO 150000/- RS ONLY. HOWEVER YOU CAN INVEST 150000/- EACH FOR CHILD AND YOUR ACCOUNT MAKING A TOTAL OF 3,00,000/- RS.
One can invest 1,50,000 Rs each that means total 3,00,000/- Rs can be invested in one year. However income tax benefits are available upto 150000 Rs. only.
@rural urban It is difficult to predict what is going to happen with such scheme after 15 to 20 years. No problem from last many years.Rate of interest changes every quarterly. Any new deposit will get as per prevailing rate of interest. No sign of interest rates going down in near future. These schemes are for those people who are earning more and save lot of funds. No doubt the members of this forum have better prosperity than common man. Let's see what extra benefits will be given to salaried person in coming budget. For senior citizens, SCSS is also a good option. They get quarterly interest. Good options for needy senior citizens. Saving, interest and 80C benefits. Interest not blocked for five years. If interest not required, can invest in RD. Again savings and interest.
Dear PKRAJ, We must save and give same habits to our next generation. I am doing the same. Besides this PPF is a good investment and can be opened with any govt. Bank. If we think of investing for 50 years then this is one option which is best option in my mind. If something happens then it will happen to all. Which is a minimum 0.01% risk we have to take. But corpus created is very large. However examine a scenario that some thing has happen to ppf then every thing will happen for stock market. So be positive and invest.
Senior citizen saving scheme is also very good for senior citizen. Gives more than 8%.
19.9. ipo share| Link| Bookmark|
December 25, 2022 8:00:07 PM
IPO Guru (1600+ Posts, 800+ Likes)
Senior Citizen Saving Scheme - present interest rate is 7.6%.
19.10. ipo share| Link| Bookmark|
December 25, 2022 8:01:46 PM
IPO Guru (1600+ Posts, 800+ Likes)
Senior Citizen Saving Scheme interest rate is revised on quarterly basis. So no fixed rate now.
19.11. P Patel| Link| Bookmark|
December 25, 2022 8:41:13 PM
IPO Mentor (900+ Posts, 900+ Likes)
Another main benefit of PPF is its EEE Tax Benefit
Principal Amount at Investment --> Exempted Amount at maturity --> Exempted Interest earned --> Exempted
Also if one got bankrupt, no one can claim to repay any debt.
19.12. PLAZA| Link| Bookmark|
December 25, 2022 11:14:23 PM
IPO Guru (2400+ Posts, 1300+ Likes)
@ruralurban Total limit is 150000 for a f y for parent and minor childeren. Explained as under
Parents Can Contribute To A Child's PPF Account, But Total Annual Deposits By Each Member Shouldn't Exceed Rs 1.5 lakh Parents can contribute to a minor child's public provident fund (PPF) account, but the aggregate of deposits made by each member cannot exceed the threshold of one lakh fifty thousand rupees in a year
As per paragraph 3 of the Public Provident Fund (PPF) scheme, 2019, any parent can open a Public Provident Fund (PPF) account for his minor children but not more than one account can be opened in a person's name. Under the PPF scheme, there is no restriction on any of the parents or both parents contributing to a minor child's PPF account.
AND
As per paragraph 4 of the scheme, an individual can contribute no more than Rs 1.5 lakh to his and the minor child's accounts taken together in a year. So while contributing to your account, you can also contribute to the PPF account of your minor son.
@Ipo share It seems from your post that you are not fully aware of Senior citizens shaving scheme. At present the rate of interest is 7.6%, you are right. Every quarterly it is always not revised but reviewed. Once you make any fd the interest rate remains the same for five years. When you go for another fd in another quarter the rate of interest is given as fixed from the 1st date of the quarter. Another main benefit of this scheme is that one can invest upto Rs. 15 lakhs at a time, which is the limit. Once invested in fd the interest rate will not change till maturity. One more benefit of this scheme is that you can break your fd after two year's with a penalty in interest rate. I am a senior citizen and I know all benefits also. But not an expert. 80c benefit for Rs. 1.5 is also there. From 1st quarter of 2023, rate of interest is likely to be increased. If you are aware all these, is all right. @PPatel Tax free is ppf. But interest upto 50,000 on deposits is also tax free for senior citizens. This is all for information and hope all are aware. But if one has lot of funds, tax savings is limited as per IT Rules and one has to pay the tax. Not a competition of knowledge here. Not a cricket 20-20 match. Have a nice week.
@Arjun M.... Yes, I overlooked that QIB is also in the pic here....my bad. That's why deleted my comment..... In effect less than 188 HNI applicants will get allotment as some big shot HNIs will get more than 1 lot.
Tamari line majj chhu bhai😅 Arihant & moxsh pachi aanoj chance levano chhe. Drone pelo sme hato pan allot na thyo, have joiye aagad su thai chhe…!!😵💫🤞🏼