01 February 2011
Dear Experts, PPF can be withdrawn five years from the date of initial investment to the extent of 50 % of the balance at the end of fourth year or at the end of the preceding year whichever is lower.My question is can the investor continue to withdraw in the following years?How will the withdrawal amount be calculated? Say for instance if at the end of 4rth year the balance in the PPF account is Rs 1 lac and 50% of it is withdrawn,can in the subsequent year another RS 50000/- be withdrawn else 50% of the balance RS 50000/- will be allowed to be withdrawn.Please clarify.
CAclubindia
