PPF Tax Saving Tips: Investing in Public Provident Fund ie PPF (Public Provident Fund) can be very beneficial for you. This is a very old and reliable investment option. Investing in this not only gives you good and safe returns but it also helps you in saving tax. By investing in this scheme, you are not taxed on investment, interest and maturity amount. On investment in this, you get tax exemption up to Rs 1.5 lakh like Section 80C (Income Tax) of Income Tax.
In this way, double the investment limit
By investing in this scheme, you get better and safe returns. Along with this, you also get the benefit of tax exemption. But, many times people want to increase the investment limit in this scheme. In such a situation, if you are married, then you can invest Rs 1.5 lakh by opening a PPF account in the name of your wife. This will double your investment.
Get many benefits by investing in PPF
Let us tell you that if you are married, then you can increase the amount of PPF by opening an account in the name of your wife or husband. But, you will get Income Tax Rebate on this investment only on Rs 1.5 lakh. But, you will also get the benefit of interest and returns on the investment of wife or husband. Therefore, by investing in this way, you can get double the benefit of PPF.
Clubbing provisions in IRT will not be affected
Let us tell you that if your wife or husband receives any kind of gift under the section of Income Tax, then it also gets added to the income of the spouse. But PPF comes under EEE category of investment and it is completely income tax free investment option. Investing in this does not affect the provisions of clubbing in any way.
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