In today's crucial time, every person wants to save for the future of his family. But people do not understand that they should invest where they can get good returns. So here, we will tell you about a government scheme in which you can earn lakhs of profits in future by investing only Rs 100.
Government beneficial scheme: Public Provident Fund
PPF scheme is a small savings scheme run by the government, in which you can easily earn profits by investing without any fear. By investing just Rs 100 in this scheme, you can earn around Rs 54.47 lakh. By investing money in this scheme, you can save tax of up to 1.5 lakh rupees every year. Under Section 80C of the Income Tax Act, this tax exemption can be obtained by selecting the old tax slab.
How to invest in Public Provident Fund scheme?
If a 25-year-old person gets 3000 rupees (100 rupees a day) out of his salary every month, deposited in the account opened by this PPF scheme, then he has to put the money in his PPF account for 35 years and the interest rate of 7.1 percent on it. Accordingly, in the end, he will get a total of 54.47 lakh rupees. By the time he retires, these accumulated thousands of rupees will be converted into lakhs.
PPF is commonly known as one of the oldest retirement scheme which was launched by the Government of India. Interestingly, the amount invested in this scheme, interest earned, and also the withdrawn amount is all exempted from tax. Thus, the PPF Scheme is not only safe, but also can help you save taxes. In this scheme, one can claim tax deductions upto 1,50,000 rupees under section 80C of Income Tax Act.
Disclaimer: All efforts have been made to make sure that the above information is accurate. No guarantee is made regarding correctness of data. You must verify with all scheme information document before making any investment.
