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About: Public Provident Fund (India)     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:WikicatTax-advantagedSavingsPlansInIndia, within Data Space : dbpedia.org associated with source document(s)

Type: agentyago:Abstraction100002137yago:Cognition100023271yago:Content105809192yago:Idea105833840yago:Plan105898568yago:PsychologicalFeature100023100yago:WikicatTax-advantagedSavingsPlansInIndia New Facet based on Instances of this Class

The Public Provident Fund (PPF) is a savings-cum-tax-saving instrument in India, introduced by the National Savings Institute of the Ministry of Finance in 1968. The main objective of the scheme is to mobilize small savings by offering an investment with reasonable returns combined with income tax benefits. The scheme is fully guaranteed 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.