PPF Tax Calculator: Public Provident Fund is arguably one of the best investment schemes in India for tax benefits under Section 80C.
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PPF Tax Calculator: Public Provident Fund is arguably one of the best investment schemes in India for tax benefits under Section 80C. You can claim a deduction of up to Rs 1.5 lakh on your annual income by investing in this scheme. However, this is subject to the condition that you are investing only in PPF for Section 80C deduction.
If you are investing in other schemes like ELSS, NSC, SCSS, EPF or paying Life Insurance premium or home loan principal, then the total deduction that you can claim for all such investments/spends is Rs 1.5 lakh only.
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Apart from the Section 80C deduction, PPF interest income and maturity amount is also tax-free. That said, here’s a look at how much tax you can save by investing Rs 1.5 lakh only in PPF for Section 80C deduction with the help of the following Income Tax Calculator.
- Suppose your annual income is Rs 10 lakh and you are investing only in PPF
In case you are not making any tax-saving investment, the total tax liability will be Rs 1,06,600 under the Old Regime and Rs 78,000 under the New Regime.
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However, if you are investing Rs 1.5 lakh in PPF, then the tax liability under Old Regime will be Rs 75,400 and Rs 78,000 under New Regime.
- Suppose your annual income is Rs 11 lakh and you are investing only in PPF
In case you are not making any tax-saving investment, the total tax liability will be Rs 1,32,600 under the Old Regime and Rs 98,800 under the New Regime
However, if you are investing Rs 1.5 lakh in PPF, then the tax liability under Old Regime will be Rs 96,200 and Rs 98,800 under New Regime.
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- Suppose your annual income is Rs 12 lakh and you are investing only in PPF
In case you are not making any tax-saving investment, the total tax liability will be Rs 1,63,800 under the Old Regime and Rs 1,19,600 under the New Regime
However, if you are investing Rs 1.5 lakh in PPF, then the tax liability under Old Regime will be Rs 117,000 and Rs 119,600 under New Regime.
- Suppose your annual income is Rs 13 lakh and you are investing only in PPF
In case you are not making any tax-saving investment, the total tax liability will be Rs 1,95,000 under the Old Regime and Rs 1,43,000 under the New Regime
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However, if you are investing Rs 1.5 lakh in PPF, then the tax liability under Old Regime will be Rs 148,200 and Rs 143,000 under New Regime.
- Suppose your annual income is Rs 14 lakh and you are investing only in PPF
In case you are not making any tax-saving investment, the total tax liability will be Rs 226,200 under the Old Regime and Rs 160,000 under the New Regime
However, if you are investing Rs 1.5 lakh in PPF, then the tax liability under Old Regime will be Rs 179,400 and Rs 1,69,000 under New Regime.
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- Suppose your annual income is Rs 15 lakh and you are investing only in PPF
In case you are not making any tax-saving investment, the total tax liability will be Rs 2,57,400 under the Old Regime and Rs 1,95,000 under the New Regime
However, if you are investing Rs 1.5 lakh in PPF, then the tax liability under Old Regime will be Rs 210,600 and Rs 1,95,000 under New Regime.
