A PPF account can be closed only on the expiry of 15 years from the end of the year in which the initial subscription was made into the account.
PPF or public provident fund is one of the most popular small savings schemes. For risk-averse investors, PPF is one of the most suitable schemes for savings towards retirement, say financial planners.
Non-Resident Indians can maintain PPF Account - Public Provident Fund (PPF) accounts held by Non Resident - Finance Ministry OM dated 23.02.2018
The government clarified that no change in interest rate or tax policy on small savings schemes, which includes PPF and NSCs.
While you may now be allowed by the government for premature closure of your PPF account, there are many reasons why you should avoid doing it.
PPF or public provident fund is one the most popular saving schemes. Apart from higher interest rates compared to bank deposits, PPF also offers a host of income tax benefits.
Linking of Aadhaar with Provident Funds such as GPF, PPF, EPF - 100% Aadhaar linking of GPF, PPF & EPF by Dec, 2017 and using Aadhaar for portability
Despite falling interest rates, PPF (public provident fund) remains one of the popular small savings schemes for the needed.
Small Savings schemes will continue to be attractive as some of them enjoy income tax benefits and additional interest rate spreads - Press Release from Finance Ministry.
Finance minister Arun Jaitley in his Budget speech last year had proposed the creation of Senior Citizens Welfare Fund saying, "there are unclaimed deposits of about Rs 3,000 crore in the PPF, and approximately Rs 6,000 crore in the EPF…
Additional Interest Rate spreads which the Government allows on Small Savings Schemes like PPF, Senior Citizen Savings Scheme, Sukanya Samridhi Scheme and NSC etc. are being continued
Based on Budget Speech in parliament the change in taxation with regard to EPF was interpreted to the effect that 60% of Employee subscription in EPF and PPF would be subjected to income tax
Times of India has published a news that the Government is set to reduce interest rates on small savings products such as public provident fund (PPF) and National Savings Certificate (NSC) over the next few days.
PPF Subscription Limit increased to Rs. 1.5 lakh - Department of Posts issues orders citing Finance Ministry's Order Consequent on increase in savings limit under Section 80 C of Income Tax Act for getting rebate / exemption on Income Tax…