PPF / ELSS – How to choose?
One should open his PPF account as soon as one is employed irrespective of whether his or her income is taxable or not. This is because of the long 15 years lock-in. Contribute maximum when you are nearing completion of the mandatory period. Whereas, ELSS should be a part of one’s investment not more from a tax savings point of view, but if the markets turn good it has the potential to give returns in the range of 12-15%. Again due to low lock in one can withdraw money if required, unlike PPF which restricts withdrawal to a certain amount and that too after 5 years.
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