None
Skip to mainThe Institute of Chartered Accountants (ICAI) has recommended to Finance Minister Nirmala Sitharaman that the maximum ceiling for PPF investments be increased from Rs 1.5 lakh to Rs 3 lakh.
The ICAI mentioned the PPF as the only safe and tax-effective savings scheme. ICAI also said that it believes that the increase in the PPF deposit limit will boost household savings as a percentage of GDP and have an anti-inflationary effect. The ICAI also said that it believes a raise in the PPF deposit limit would give a boost to domestic savings as a percentage of GDP. This will have an anti-inflationary effect, the premier organisation said.
The Public Provident Fund (PPF) was established in India in 1968 with the goal of mobilising small deposits through investment and earning a return. It's also known as a savings-cumulative-tax savings investment vehicle since it allows you to create a retirement fund while lowering your annual taxes. A PPF account is a safe investment choice for anyone wishing to save taxes and earn assured profits.
The interest and returns earned are not taxable under the Income Tax Act. Under this system, one must create a PPF account, and the amount contributed during the year will be claimed as a deduction under section 80C.
🕑 24 Mar, 2024 08:01 AM
Minutes of the DC/JCM (Railways) and Staff Side Meeting held on 15-16 Feb
🕑 20 Mar, 2024 09:23 AM
Pensioners Samaj on discrematory nature of railway Notional Increment order
🕑 20 Mar, 2024 09:14 AM
BSNL non-executive staff wage revision: Record of Joint Committee discussion
🕑 19 Mar, 2024 10:36 AM
50% for CDA pattern employees of CPSEs in 7th CPC pay
🕑 18 Mar, 2024 01:16 PM
Changes in Reimbursement of Children Education Allowance as per NEP 2020
🕑 18 Mar, 2024 01:13 PM
Holiday declare for 14th April, 2024 – Birthday of Dr. B.R. Ambedkar
🕑 18 Mar, 2024 01:04 PM
Revised Flexible Complementing Scheme for Scientists
🕑 15 Mar, 2024 09:33 AM
Dearness Relief to Central Government pensioners from January 2024
🕑 14 Mar, 2024 02:07 PM
Govt bans 18 vulgar 18 OTT. See the list here
🕑 08 Mar, 2024 01:49 PM
Pension Scheme Gains Traction Across States, Despite Central Hurdles
🕑 20 Feb, 2024 11:17 PM
CGHS rate for general surgery applicable from February 1, 2024
🕑 08 Feb, 2024 10:19 AM
No loan interst change as RBI maintains repo rate at 6.50% for the 6th time
🕑 07 Feb, 2024 08:28 PM
The Evolving Role of Pay Commissions in India: Mandatory or Myth?
🕑 05 Feb, 2024 03:50 PM
How much you take home increase after DA hike?
🕑 03 Feb, 2024 07:59 PM
Guaranteed Benefits in NPS: Election Gambit or Endgame for Retirees?
🕑 03 Feb, 2024 07:46 PM
Budget 2024. Benefit up to ₹ 25000. One in eight taxpayers to benefit