Health insurance policies also come with tax saver facilities with a limit of Rs 1 lakh per annum.
Form D is required to be filled and submitted to the bank/post authorities where the PPF account is held to apply for loan against PPF.
Interest rates for small savings schemes, which are notified on a quarterly basis, have been kept unchanged for sixth straight quarter
Money 9 Helpline hosted Viral Bhatt, founder, Money Mantra to help you understand how you can include PPF and ELSS in your investments
PPF Account: If the PPF account is inactive, then one cannot close it before the completion of the maturity period.
The interest rates of these schemes are set by the government at the start of every quarter of the financial year.
The sooner you can start investing for your next generation, the easier it is to build a big corpus for him/her.
It is better to file your tax early as it will help to have peace of mind by avoiding penalties. It will also help in getting your refund if any.
EPF and PPF are both considered as the safest, secure and guaranteed instruments for creating good retirement corpus.
Tax-saving: There are various investment schemes available in the market that offer tax exemptions.