July 5, 2015 - India ITR

Public Provident Fund Rules – Summary

Provident Fund (PF), Public Provident Fund (PPF)By Himanshi July 5, 2015

Public Provident Fund Rules 1. The Public Provident Fund Scheme is a statutory scheme of the Central Government of India. 2. The Scheme is for 15 years. 3. Public Provident Fund Interest Rate is fixed by the Ministry of Finance, Government of India, annually, and at present is 8.7% compounded annually (as of April 1st…

‘Why should I pay tax?’

Income TaxBy Himanshi July 5, 2015

The citizens of India are required to pay Income tax as well as other taxes as per law. 1. Some people raise the question ‘Why should I pay tax? They argue: I have to pay for my food, for my house, for my travel, for my medical treatment, for owning a vehicle not only cost…