PPF Rules After Budget 2023: Those who put money in PPF got a shock, what was expected did not happen.
PPF Rules After Budget 2023: Under this article of PPF (Public Provident Fund), the Union Budget has been presented by the Finance Minister! Many important announcements have been made by the government in this budget! Through these announcements, the government has tried to benefit all sections of the people! At the same time, many new schemes have been started by the central government in this budget! However, some important changes were expected in the old schemes like PPF Account being run by the government through people! But the government did not change them!
The government has also tried to live up to the expectations of the people! At the same time, Public Provident Fund (Public Provident Fund) i.e. PPF scheme is being run by the government! People expected that this time in the budget, the government may announce an increase in the PPF account limit. People have been demanding for a long time to increase the maximum investment limit that can be deposited in a financial year in the PPF scheme! However, people’s expectations remained the same!
No change was announced regarding PPF (Public Provident Fund) in Budget speech 2023 by Finance Minister Nirmala Sitharaman! In such a situation, the expectations of PPF account holders (PPF Account) have also been shocked! At present the benefit that was getting in PPF earlier! The same benefit will continue to be available in the future! The maximum investment limit in PPF in a financial year will be 1.5 lakh rupees!
Tax exemption also includes other investments under Section 80C
Tax exemption is available under Section 80C on deposits in PPF Account! Under Section 80C, you get tax exemption on certain types of investments up to 1.5 lakh rupees every year! Adding all the investments and expenses under Section 80C, this amount has been fixed at 1.5 lakh! Like EPF, NSC, Sukanya Samriddhi, Senior Citizen, 5 years FD etc. Any amount that is more than Rs 1.5 lakh in everyone’s deposit will be included in the tax calculation. That is, if you have invested or spent money in many schemes with benefits of 80C! So you will not be able to claim tax exemption on the entire 1.5 lakh rupees of PPF (Public Provident Fund) account!
Tax Exemption : PPF Rules After Budget 2023
Apart from this, interest on PPF is currently at the rate of 7.1 percent! At the same time, the tax benefit available in the PPF scheme (PPF Account) will also remain the same as before and people will be able to get tax exemption from the PPF (Public Provident Fund) scheme as before!