CONTRIBUTION TI PPF ACCOUNT.

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  1. mukeship

    mukeship New Member

    Kindly let me know:

    Whether limit of 1.5L investment in a PPF account is

    1) Either per year basis,

    2) Or, is per financial year basis?

    Regards
     
  2. sai tejesh(ca.final)

    sai tejesh(ca.final) Active Member

    for suppose ,during the period from 1-4-2015 to 31-03-2016,if you made deposit in PPF A/C ,then u can claim deduction for the this financial year 2015-16.
    Else if u deposit in 1-04-2016,u can claim deduction for the next financial year i.e F.Y 2016-17.
     
  3. mukeship

    mukeship New Member

    Teeth ji,

    Thanks for the reply,

    But my querry is on contribution or deposit in PPF account,

    Not on Tax rebate per year as explained by you.

    May please clarify as per ppf act.
     
  4. sai tejesh(ca.final)

    sai tejesh(ca.final) Active Member

    It means that u are asking about income tax rebate only right??.

    ok any way..if u want to open ppf account go to bank, open PPF a/c,deposit Rs.150000/- ,claim rebate of Rs.150000/- from ur income.

    That's all do want any thing more??..or u are asking about deposit limit criteria.
    if soo, it is per year basis not per financial year basis.
     
  5. Neha Sharma

    Neha Sharma Active Member

    It is on financial year basis
     
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