if i open a PF/PPF account, can the amount be tax exemption apart from Rs 1 lac?
For eg: i have already taken Rs 1 lac NSC bonds and other LIC policies.
Now if i got for PPF account, can i consider this amount also for tax exemption.
- BobbieLv 79 years agoFavorite Answer
PF/PPF(Public Provident Fund)
What is PF/EPF and PPF:
EPF(Employee Provident Fund),as its name suggests, is available to salaried employees and is a retirement benefit scheme.
Whereas in PPF ( Public Provident Fund) You need not be a salaried individual.
- troLv 79 years ago
tax exemption? probably not, but a reduction of taxable income at the time of contribution