Most pension plans are not available after retirement from private sector employment, and the majority of government positions are no longer covered by pension plans. That is, how will you live after retirement, and how can a respectable arrangement be made for it… Will give you a good chance of saving in income tax, but will also keep the legal and legal amounts of more than 2.5 crores in your hands. at the time of retirement. You must have heard, but through this, a salaried youth can reach the age of retirement and can accumulate crores of rupees, you would not have imagined…
Yes, this scheme can really give a completely tax-free amount of more than 2.5 crores in your hands. Not only this but through this scheme, both husband and wife together can save tax up to a maximum of Rs 93,600 (Rs 46,800) annually, that too for a full 35 years… Remember, the amount of tax saving will be Rs 46,800 when the investor Pays the full 30 percent tax as per the maximum slab of income tax… If the investor pays tax under the lower slab of income tax, the amount of tax saving will also decrease accordingly….
Let us now tell you about this scheme… This is the most popular and popular savings scheme in the last decades, which is included in the small savings schemes of the Government of India. The name of this scheme is Public Provident Fund, which is in the English language. Is. It is called Public Provident Fund. PPF or the Public Provident Fund You can open an account under this program at a post office, a branch of any bank, etc.
You can deposit a minimum of Rs. 500 and a maximum of Rs. 1,50,000 in the PPF account each year (here we’re talking about the financial year, which runs from April 1 to March 31). The interest rate on these deposits is credited to your account. On the last day of every year, account. Added… So, now if you deposit the full Rs 1.5 lakh only on 1st April every year, then maximum interest will be credited to your account at the end of the year… but it pays interest at the rate of 7.1 percent, which has come down significantly as compared to the earlier years, but still this rate is enough to maintain PPF as one of the top investment possibilities…
The biggest feature of this scheme is that it is included in the EEE scheme of the government, which means you get tax exemption on the amount deposited every year, you do not get any tax on the interest earned every year. And finally maturity, the entire amount received at the time of maturity (original investment plus interest) also becomes completely out of the tax net…
Well, now understand how you can become a millionaire with this scheme till retirement… If you open a PPF account at the age of 25 and deposit Rs 1.5 lakh in the account on 1st April with a maximum limit of Rs. year, then 10,650 will be credited to your account at the current rate on 31st March of the following year, leaving your account balance, ie, Rs 1,60,650 as the balance on the first day of the next financial year, and the same amount as the next year’s investments be deposited for. After adding Rs 1.5 lakh it will become Rs 3,10,650, and next year you will get interested in Rs 3,10,650 instead of Rs 1.5 lakh, which will be Rs 22,056… Similarly in April every year first, you deposited Rs 1.5 lakh Will Stay tuned, and on the maturity of 15 years you will get Rs 40,68,209 in your account, This will require an investment of Rs 22,50,000 and interest of Rs 18,18,209…
Now you are only 40 years old, and you are far from retiring now… the real start to make you a millionaire would be from here… So, you need to grow your PPF account for five years, and start your investment plan. The annual routine has to be maintained… When the next time (20 years of PPF account and 45 years of your age) reaches maturity, the total amount in this will be Rs 66,58,288, in which your investment will be Rs 30,00,000 and compounded The interest will be Rs 36,58,288…
After that, you increase your PPF account again and keep investing… Now at the age of 50, the total amount deposited in the account will be Rs 1,03,08,014, in which your investment exceeds Rs 37,50,000 Will happen. interest. 65,58,015 will be Rs 65,58,015… Now again expand the PPF account, and after five years when you turn 55, the total amount in your account will be Rs 1,54,50,910, in which the amount invested is 45,00,000 and the amount of interest will be Rs 1,09,50,911… and now after the extension of five years, i.e. when you turn 60, the total amount in your PPF account will be Rs 2, 26,97,857, in which Your total investment will be Rs 52,50,000, while the interest amount will be Rs 1,74,47,857…
The fact that you won’t owe any taxes on it and that it is all white money is now the most crucial aspect of this sum. Money saved has…
Read More: Investment tips: In 15 years you will have 1.26 crores, follow this strategy
The unique elements of this system that are worth keeping in mind, after reading everything about it in full, are these…
- The government revises the interest on the PPF account every quarter, so in case of an increase or decrease in the interest rate, your total retirement amount may also increase or decrease.
- In the PPF account, the investor should deposit the investment amount at the beginning of April every year, so that maximum interest can be earned.
- Remember, the maturity amount entered in this report is achieved after running the PPF account for 35 years, therefore, if you are more than 25 years old at the time of opening the account, and you do not increase it at least four times, Even so, there may be a difference in the amount you get…
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