Checked with the CA Akshay Mehta. For example, if you paid in Rs. Have to continue deposit upto 15 years? In this article we shall only focus on how to pay the PPF amount in different scenarios such as in Post Office, State Bank of India and related banks and online.
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Under Section 80C of the Income tax Act, an individual is eligible to claim deduction from total income in respect of contributions to any PPF belonging to self, husband, wife, any child subject to an overall limit of Rs. You can have another account for your wife.
Please suggest how to either transfer account to Mumbai post office or way to deposit money in Chennai Post office.
Trackbacks […] Read Sources […]. Are you in City Y for some time only? Have to continue deposit upto 15 years? Through Internet banking, theycan view their PPF account details, print statement of accounts and also make subscription to PPF by way of online transfer of funds from the savings bank accounts. Enter name as in PPF account 4. Maximum amount which you can deposit in a PPF account is Rs.
If Yes then what is extra charges? No you can deposit it through any other bank cheque or NEFT for that matter.
Leave a Reply Cancel reply Your email address will not be published. If it NO means, Is there any minimum duration limit? Yes the minimum duration of PPF is for 15 years. In the example, you would have to pay Rs.
Else you can open a new PPF account in a bank. The concerned person should not extend the account and withdraw if 15 years are over. Yes it is usually the case but I there is ease of operation no standing in line for PPF account. Problem is we are based in rural area andthe internet is not functioning well here.
Since for this year i am out of the country so till now unable to pay the required installment.
PPF (Public Provident Fund) Fillable / Editable Forms - Maxutils
Learn how your comment data is processed. Reactivating a dormant PPF account In order lpf revive the account, the investor must give a request in writing to the bank or post office where the account is held.
Can i change monthly deposit to half-year deposit? So, can I deposit 1.
Bank of India (BOI) PPF Account
This was 4 years ago. You have to take a call whether amount in PPF is worth going to Chennai or not. Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners.
Thanks a lot for this very informative article.
Approach the bank or the Post office where your current PPF account is held and makes an application for transfer of PPF account to the specific branch of the bank. If i deposit in the 2nd of Jan or FEB what will happen? Parag you would have to visit the Chennai Post office once. So for FY now you have made 9 contributions. So from tax point of view that income from FD will be clubbed in her income and not mine.
In such as case, can I mention the account type as savings? While there is no online procedure to open a PPF ppg with Bank of Indiayou can view, operate and manage your account online after it is created. Example, I have kept my account inactive for four years.