4 Ways to save your tax

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Public Provident Fund (PPF)is a long-term, government-backed savings scheme in India designed for risk-free investment and tax savings.

1. Interest Rate:Around 7.1% per annum, compounded annually, reviewed quarterly.
2. Tenure:Fixed 15-year term, extendable in 5-year blocks.
3. Investment Limits:Minimum Rs. 500 and maximum Rs. 1.5 lakh per year.
4. Tax Benefits:Qualifies for tax deductions under Section 80C; interest and maturity amount are tax-free (EEE status).
5. Withdrawals and Loans:Partial withdrawals allowed after 7 years; loans can be taken from 3rd to 6th year.
6. Safety:Offers secure returns as it's backed by the Government of India.
7. Ideal For:Long-term savings, retirement planning, and tax-saving goals.

PPF is a popular choice for conservative investors looking for safe and tax-efficient growth of their savings over time.