PPF currently fetches an interest rate of 7.6 per cent. Interest rates on PPF are revised quarterly
PPF or public provident fund is one the most popular saving schemes. Apart from higher interest rates compared to bank deposits, PPF also offers a host of income tax benefits. In terms of income tax implications,PPF enjoys an EEE - exempt, exempt, exempt - status. This means the contribution, interest and maturity proceeds are all tax-free. PPF contribution up to Rs 1.5 lakh in a financial year is eligible for tax deductions under Section 80C of the Income Tax Act. Now, PPF accounts are likely to come with more benefits.