Powered by http://www.taxqueries.in/ PPF CALCULATION Powered by http://www.taxqueries.in/

Powered by http://www.taxqueries.in/ Contents Online PPF Calculator PPF Closing Balance Calculation PPF Account PPF Interest Rates Features of PPF Powered by http://www.taxqueries.in/

Powered by http://www.taxqueries.in/ Online PPF Calculator PPF return Calculator will help you for the Calculation of provident fund amount, interests earned over the maturity period  PPF Calculator is one of the easiest ways to find out the total return on invested in PPF account online. PPF calculators compiled take into account the changes in interest rate and showed year-wise deposit, interest earned Online. With this PPF Interest Calculator, you can easily Calculate PPF Amount, Earned Interest and Closing balance and PPF withdrawal Online. Powered by http://www.taxqueries.in/

Powered by http://www.taxqueries.in/ PPF Calculation Interest rate : 8.1% Duration of scheme : 15 years Minimum deposit amount (per year) : Rs. 500/- Maximum deposit amount (per year) : Rs. 1,50,000/- No. of installments every year : Minimum of 1 year to 12 years maximum. No. of accounts one can open : Only One Lock-in period : 15 years (PPF partial withdrawals can be made from the 7th year) Extension of PPF Account : After the maturity period (15 years), it can be extended for a period of 5 years Tax savings (contribution) : As per Section 80C of Income Tax Act, 1961 (upto Rs. 1,50,000/-). Powered by http://www.taxqueries.in/

PPF Closing Balance Calculation PPF Account Closing balance formula Closing amount = Amount Invested + Rate of Interest (8.1%) Closing Balance= Rs.2,500 + (((2500*8.1)/100)==> Rs. 2,703 Powered by http://www.taxqueries.in/

Powered by http://www.taxqueries.in/ PPF Account PPF (Public Provident Fund) is a saving-cum-tax saving scheme Central Government by India Any individual resident of India can open an account under the PPF. A minimum yearly deposit of Rs. 500/– is needed to open and maintain a Public Provident Fund account, and a maximum deposit of Rs. 1,50,000/– with the duration of 15 years.  The salaried assessee can withdraw whole investment only after the 15 years. Powered by http://www.taxqueries.in/

Powered by http://www.taxqueries.in/ PPF Interest Rates The Current PPF Interest Rate 8.1% for FY 2016-17. The PPF Interest rate is now fixed on the quarterly basis from 1st April 2016. PPF Interest rate for the current year and few past financial years  S.no Financial Year Interest Rate/Year 1. 1st December 2011 to 31 March 2012 8.60% 2. 2012-13 8.80% 3. 2013-14 8.70% 4. 2014-15 5. 2015-16 6. 2016-17 8.10% Powered by http://www.taxqueries.in/

Eligibility to open PPF account A salaried assessee who is residents of India can open a PPF account.  Only one PPF account can be maintained by the individual, except a Public Provident Fund account that is opened behalf of a minor.  Hence, PPF account can also be opened by either under the name of a children or parent. NRI’s are NOT eligible to open a PPF account. But, if anyone opens a PPF Account while he/she is a Resident of India but subsequently becomes an NRI, the assessee shall be allowed to continue investing in assessee’s account. Powered by http://www.taxqueries.in/

Powered by http://www.taxqueries.in/ Features of PPF PPF Interest rates: Interest rates of Public Provident Fund are announced by the central government annually. The current PPF Interest rate 8.10% per annum from 01 April 2016 onwards. Tenure: The PPF is a 15 years plan. Hence, as per PPF withdrawal rules, Provident Fund gets matured after the completion of 15 years. Although, on maturity, this 15 years period can be extended any number of times for a block of 5 years. PPF Account deposit can be made by submitting Form H within one year from the date of PPF maturity. PPF Nomination: The Nominations are allowed on opening the account. Initial PPF investment: Rs.100/- to open a PPF account. Annual PPF Deposit Amount: Rs.500/- to Rs.1,50,000/- per annum. Powered by http://www.taxqueries.in/

Powered by http://www.taxqueries.in/ PPF Withdrawal: Partial PPF withdrawals can be made every year from 7th year onwards. PPF withdrawals are subject to conditions. Complete PPF withdrawal of funds can be done only at the time of maturity. Fund transfer: PPF accounts or funds cannot be transferred between individual assessee but can be easily transferred between post offices or authorized bank branches for free. Tax Benefit: Interests are tax-free, and deposited amounts are tax deductible Under Section 80C of the Income Tax Act, 1961. PPF Withdrawals are exempt from Wealth tax. PPF Joint accounts: The joint accounts are Not allowed under PPF Account scheme. Powered by http://www.taxqueries.in/

Powered by http://www.taxqueries.in/ PPF Revival After the lock-in period of 15 years, the assessee can be withdrawn full amount after its maturity period. As well taxpayer can withdraw partial amount before maturity period but after the end of the sixth financial year.  If the salaried assessee failed to invest the minimum amount in any financial year, then the PPF account will be deactivated. The PPF account can be reactive by pay Rs. 50/- as the penalty for each inactive year. Also, individual assessee have to deposit Rs.500 for each inactive year’s contribution. Powered by http://www.taxqueries.in/

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