PPF A/C OF HUF

This query is : Resolved

abhijeet m. deshpande (Querist)
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02 September 2010 I have a PPF a/c in the name of my HUF which matured on 31-03-2010. I hear the ppf a/c's of HUF are not to be extented for a further period of 5 years as per government circular. However on application, my bank has extended my account. Can I be denied interest on the balance amount by the bank later on giving the reason that the account was extended by mistake. What should I do ?

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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02 September 2010 AS YOU ALSO KNOW THAT IT IS AGAISNT GOVT. CIRCULAR, THEN YOU CAN'T DO ANYTHING REGARDING SUCH.
HENCE IT IS BETTER TO WITHDRAW AMOUNT AND INVEST IN ANY OTHER INVESTMENT SCHEME LIKE MONTHLY DEPOSIT SCHEME OF POST OFFICE OR ANY WHICH YOU DESIRE.