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My investment in term insurance, Employees Provident Fund (EPF), Public Provident Fund (PPF) exceeds ₹1.5 lakh. I understand that I can claim tax benefit of only ₹1.5 lakh under 80C in this financial year. What is the maximum amount that can be invested in Public Provident Fund (PPF)? Will I get an interest for the extra amount deposited in PPF? When the PPF account gets matured, will this interest be exempt from Income Tax?
- Bhaswati Banerjee
You can invest a maximum of up to ₹1.5 lakh in a Public Provident Fund (PPF) account in a financial year. Even if you are not claiming tax deduction on it, you will get interest on it and the interest will be free of tax.
This article was originally published on January 29, 2016.
Disclaimer: This content is for information only and should not be considered investment advice or a recommendation.
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