I am interested in opening a public providence fund(ppf) and i have some questions?

1. Im just 19years old and i dont have any income but i want to open the account so that i can deposit excess taxable income into it in the future, i want to open it now to reduce the waiting time, is it a good idea.
2. I don’t have a pan card in my name, can i still open a ppf account?
3. Can i partially withdraw from the ppf after 7 years, and if so upto what extent, do i have to pay it back?
4. I have an option to open the account in either a post office or a bank, which is a better option in terms of convince ?
even though i dont have a taxible income i will be able to pay 500/- a year… my plan was, like after 5 or 6 years when i get an income more than the limit thats non taxible i can put it in the ppf so that i’ll only have to wait for 10 years and get the tax free amount sooner even if the interest is less… is it a good idea?

Leave a Reply

Your email address will not be published. Required fields are marked *

eleven − nine =