How to calculate the maturity period of PPF
Dear Friends, In one of my earlier articles, I have explained one of the best tax-free investments which is the public provident fund commonly known as PPF. One of the questions that come into the mind of many investors that how to calculate the maturity period pr how to calculate 15 financial years. As lock-in period for PPF is 15 years with certain conditions investors can withdraw money earlier.
Let us try to understand how to calculate 15 years. Suppose you have invested money in August 2008 and as per initial and spontaneous calculations, the fifteenth year will be 2022. But this is the wrong calculation. To calculate the maturity period of ppf, the initial year of investment will not be calculated. The first financial year will start on 1 April 2009, let us see from the following table the last financial year:
|S. No.||Financial Year Start Date||Finacial Year End Date|
|1||1 April 2009||31 March 2010|
|2||1 April 2010||31 March 2011|
|3||1 April 2011||31 March 2012|
|4||1 April 2012||31 March 2013|
|5||1 April 2013||31 March 2014|
|6||1 April 2014||31 March 2015|
|7||1 April 2015||31 March 2016|
|8||1 April 2016||31 March 2017|
|9||1 April 2017||31 March 2018|
|10||1 April 2018||31 March 2019|
|11||1 April 2019||31 March 2020|
|12||1 April 2020||31 March 2021|
|13||1 April 2021||31 March 2022|
|14||1 April 2022||31 March 2023|
|15||1 April 2023||31 March 2024|
Thus, from the above table, you can see that the last financial year to contribute is 2023-24. If one wants to invest after that one can apply for an extension for 5-year block.
Thus, I hope you have understood how to calculate the maturity period of ppf or 15 financial years. Please share in comments sections, in any case of any query.