Public Provident Fund (India)
Savings-cum-tax-saving instrument in India / From Wikipedia, the free encyclopedia
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The Public Provident Fund (PPF) is a savings-cum-tax-saving instrument in India,[1] introduced by the National Savings Institute of the Ministry of Finance in 1968. The scheme's main objective is to mobilize small savings by offering an investment with reasonable returns combined with income tax benefits.[2] The scheme is offered by the Central Government. Balance in the PPF account is not subject to attachment under any order or decree of court under the Government Savings Banks Act, 1873. However, Income Tax & other Government authorities can attach the account for recovering tax dues.[3]
This article's tone or style may not reflect the encyclopedic tone used on Wikipedia. (May 2014) |
The 2019 Public Provident Fund Scheme, introduced by the Government on 12 December 2019, resulted in the rescinding of the earlier 1968 Public Provident Fund Scheme.