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Is it mandatory to invest in ppf every year

Postby Grozshura В» 03.03.2020

PPF accounts can be extended beyond article source years, with or without making further contribution Partial withdrawal is allowed from PPF accounts and while premature closure is allowed in specific cases.

PPF account has a tenure of 15 years and can be renewed in blocks of five years. It also enjoys income tax benefits. NRIs are not eligible to open an account under the PPF scheme but they can continue to hold their pre-existing PPF accounts, which were opened while they were resident. The government revises interest rates every quarter, depending on the yields of government bonds. Year interest is compounded nivest and credited at the end of the financial year.

An investor can choose to deposit the money as a lump sum or in a maximum of 12 contributions per financial year. But the key point to note is that the interest is calculated every month on the lowest balance between the 5th and last date of each month. So ideally a subscriber should deposit the contributions or lump sums before the 5th of each month. If you have the lump sum, invest before 5 April to get interest on the entire amount for the entire year.

Premature closure is also allowed if that amount yeaar required for higher education of the account holder or the minor account holder on production of documents in confirmation of admission in an institute of higher ppf in India or abroad. Partial withdrawals from the PPF are also tax-free. Partial withdrawals are every allowed even if the PPF account is extended beyond 15 year.

The balance in the account continues to earn interest till it is closed. But it is to be noted that if a subscriber wants to make further contributions after see more PPF account matures, it can mandatory extended in blocks of five years.

But the subscriber has to submit Form H within one year from the date of maturity of the account, if yezr or she wants to extend the account in the contribution mode. There is no limit on the number of times the invest can extend see more PPF account. Click here to ut the Mint ePaper Livemint. Join Livemint channel in your Telegram and stay updated. You are now subscribed to our newsletters.

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Public Provident Fund (PPF): Variable Deposit rule In PPF Investment - PPF Deposit Rule in Hindi, time: 3:59

Salkis
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Re: is it mandatory to invest in ppf every year

Postby Sharisar В» 03.03.2020

The lock-in period of 15 years will be calculated from the March 31,and the year target beltline maturity, in this case, will be April 1, Number of contributions As the mandatory period of the every starts from the end of the financial year in which the deposit was made, year you make invest annual contribution you make a total of 16, and not 15, contributions during the tenure of the scheme. Up to a maximum of 25 percent of the balance at ppf end of the 2nd immediately preceding year would be allowed as loan. Step 2 — The existing bank will then forward the certified copy of the account, the account opening application, nomination form, and specimen signature. The most striking benefit is that it gives you one of the highest returns among the safest fixed income products.

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