Among the tax saving investment options, ELSS and PPF/EPF are unique in the sense that returns from are absolutely tax free.
1) Interest earned from PPF is not taxed during accrual or pay out.
2) Dividend from ELSS is tax free.
3) ELSS has a lock-in period of three years. So,Profit on sale of units held after 3 years is a long term capital gain. It is subject to Nil tax as per current IT act.
ELSS and PPF are the way to go...
ELSS- equity linked saving scheme of Mutual Funds
PPF- Public provident fund
RPF- Contribution to Employee Provident Fund
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3 comments:
Hi,
I wanted to open a PPF account with either Post office or with SBI, can you please let me know which is safest place the Post office or the SBI, to open this a/c?
Thank you.
Both should be equally safe.
Hi,
Which one (Post Office or SBI) allows to oprated ppf a/c across the india ?
e.g. if i have ppf account in orissa, then can i operate the same ppf account from kerala ?
thank you.
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