PPF: Great opportunity, now you can get a profit of up to Rs. 3 lakhs, whoever invests in “PPF”, know what is the benefit: There is a public hope and demand of the people that the amount of “PPF” should be increased. In fact, “ICAI” i.e. Institute of Chartered Accountants of India has demanded that the investment limit of “PPF” should be increased to Rs.3 per year.
limit not increased
Despite increasing popularity in the last several years, its investment has not been increased. An investment of up to Rs 1.5 lakh in PPF is eligible for tax exemption under section 80C. The benefit of three taxes under the scheme allures the investors.
Why ICAI wants change in PPF limit
The issue of increasing the limit of “PPF” was raised by “ICAI” for the benefit of account holders and to increase domestic savings. “PPF” is used as savings under “ICAI”, while 12% of your salary is an obligation due to employment.