Best Tax-Saving Options to Look Out For
# PPF
The government supported Public Provident Fund is highly regarded as one of the best option to save tax and provides you with higher returns. Interest income on PPF and the final amount is considered as tax free. Balance amount held in Public Provident Fund is exempted from Wealth Tax.
The ease of opening an account and liquidity makes it a perfect financial instrument. Deposit to Public Provident Fund is tax deductible for individual taxpayers in India under section 80C of Income Tax Act, 1961.
The Public Provident Fund is useful for high-risk investors, self-employed professionals and those who are not covered by the Employees Provident Fund and other benefits.
READ MORE: Finance Commission Suggests Higher Share To States In Central Taxes
