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POSTED BY ON December 2, 2013 8:03 pm COMMENTS (5)
Sir,
I am interested to open a ppf account with sbi branch. I have some question
1. I want invest 5000.00 per month in ppf account in every month for 25 years. This is the secure investment for long term.
2.When its mature the amount is more then 50 lac.this all amount is tax free & taxable.
3. Only deposit value taxable & only interest are taxable and both are tax free
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1. I want invest 5000.00 per month in ppf account in every month for 25 years. This is the secure investment for long term.
Initial plan is for 15 years only. Towards the end you have the option to continue in 5-yr blocks. I think you’ll need to fill in a form to make this subscription.
2.When its mature the amount is more then 50 lac.this all amount is tax free & taxable.
All tax free.
3. Only deposit value taxable & only interest are taxable and both are tax free
Both the principal deposits and earned interests are tax free.
Dear Brij, can you please elaborate your query?
thanks
Ashal
The entire amount receivable on maturity (principal + interest) is tax free as per current tax laws. However this might change in future if and when the proposed Direct Tax Code becomes legally operational.
I think he wants to ask whether the amount he deposited is taxable or only the interest earned on maturity is taxable.
I didn’t get your question.