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Querist : Anonymous

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Querist : Anonymous (Querist)
21 December 2011 For A.Y. 2012-2013 [F.Y. 2011-2012] what is the maximum investment can a person make in PPF to get benefit. I heard that as per PF act maximum investment limit is increased to Rs. 1lac, but will income tax allows for A.Y.2012-2013 entire amt of 1lacs
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
21 December 2011 Yes. Deduction will be available in AY 2012-13. The revised limit is applicable from 01.12.2011 therefore applies from FY 2011-12.
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anurag

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anurag (Expert)
21 December 2011 Agree with the expert, the deduction is available under section 80C.
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