Ppf: If your Public Provident Fund i.e. PPF account has completed 15 years, now you have a chance to take some important decisions. This account is for a long period and also pays good interest. Also, the entire money of PPF is tax free. Let us now understand what you can do after maturity.
1. withdraw full money
The first and straightforward way is – withdraw all money. Whatever you have invested so far and the interest you have received on it can take all the money together. For this, you have to go to the bank or post office and give Form C, your passbook and KYC document. This entire money is tax free.
2. Extended without deposit
If you do not need money right now and you do not want to invest, then you can increase the account for 5 years. During this time, we will not be able to invest new money, but whatever money is already deposited, interest will continue to be received. You can withdraw a little money every year.
3. Extended with Deposit while investing
If you want to continue investing a little further, then you can resume the PPF account for 5 years. For this, you will have to fill Form H within one year of maturity. You can add at least Rs 500 and at least Rs 1.5 lakh every year. The interest on this will also be tax free. If a decision is not taken in time, then the account will automatically increase for 5 years, but you will not be able to put new money in it.
Even after maturity, interest will remain tax free.
So when the PPF account is matured, take the right decision by looking at your expenses and saving needs. This money is going to be very useful for your future. PPF is getting 7.1 percent annual interest.
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