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7 reasons to open a PPF account

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by Narayanan on Jul 03, 2017 07:44 PM

After completing 6 years you can withdraw 50% of the balance available from your PPF account.You may withdraw in the beginning of the financial year.After 3-4 days you may deposit the withdrawn amount.No tax deduction for withdrawn amount.But you can claim tax exemption for the deposited amount.Depending upon the tax slab you can get 10 or 20% tax deductions.Suppose you are withdrawing 1.5 lac and depositing the same you will get tax benefit of 10000 or 20000 depending upon your tax slab and yearly interest about 8% Total benefit will be 18% or 28% depending your tax slab. PPF falls under exempt,exempt and exempt category.

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