Tax Benefit & Min Deposit during PPF 5Yr Extension Periods

POSTED BY Deepthy ON January 20, 2013 3:42 pm COMMENTS (2)

 

Once PPF is extended after 15th year, in 5year blocks with deposit option,

1) Will one get tax benefit upto 1Lakh deposit yearly, during these extended periods?

 2) Will one be required to deposit of a minimum 500Rs to keep the PPF extended account ‘alive’, during these extension periods too?

This is to try and understand if the PPF behaviour in terms of Tax Benefits & Min/Max deposits every year remains same during the 1st 15yrs & during the extended block of 5yrs, if we choose the option to ‘extend with deposit’.

Request you to pl share your knowledge on this. Thanks.

 

 

2 replies on this article “Tax Benefit & Min Deposit during PPF 5Yr Extension Periods”

  1. Deepthy says:
    January 20, 2013 at 9:07 pm

    That response is a great help. Thanks, Ashal!

    Reply
  2. Ashal Jauhari says:
    January 20, 2013 at 5:54 pm

    Dear Deepthy, even during extension of your PPF acct. in block of 5Y each time, the minimum deposit limit ‘ll remain same 500 Rs. & maximum 1L Rs. There is no change in these basic things. You ‘ll still get tax benefit under section 80C on the deposited amount within the over all limit of 1L Rs during your extension days also.

    Thanks

    Ashal

    Reply

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