When it comes to saving then the first thing that pops in our mind is how to save tax, especially during the ending of financial year (FY). And this time on Financial Year 2013-2014 and 2014-2015 you must be struggling on how to save tax on your total income. There are several schemes and policies are available in market that allow to save your tax under Income Tax Act however I can tell you that the best way to save your tax is the PPF. There are several benefits of having PPF account, the very first thing is it’s Secure, Reliable, Government of India approved an d running from last many years that win million of people’s confidence. Unlike other schemes that allow to save you tax is usually less fall under 4 to 7 % of interest rates where as the PPF account allow you to earn 8.7% interest rates on your investment and the best part is that you the total capital would be tax free at maturity time. Now if you have or planning to open PPF account then obviously you would like to calculate the PPF amount that you are going to invest and how much return it will give.
For this purpose I prepared a simple calculator tool that will allow you to calculate the principal amount and the interest rates. And as we all know that the total investment period is of 15 years therefore this toll will let you know the total amount invested along with interest rates from 1st year to toll 15th year along with total balance that you will be receiving at the maturity period. What you have to do is only enter the total amount that you are going to invest on yearly basis (every financial year) and click on “Calculate“ button. This will take hardly 4-5 seconds and will display the full list of interest rates along with total balance. Enjoy!!
|Your fixed yearly PPF amount:|
June 29th, 2012 by admin | Comments (0)