Ppf limit increase
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 December 2011
Has the increase in limit of PPF form Rs.70,000 to Rs.1,00,000 have any effect on upper limit on Sec.80C ??
Earlier, could we not deposit more than Rs.70,000 or depoit beyond that limit wasnt exempted. Kindly answer
Earlier, could we not deposit more than Rs.70,000 or depoit beyond that limit wasnt exempted. Kindly answer
16 December 2011
80C LIMIT REMAINS SAME I.E. RS 1 LAC.
BUT YOU CAN DEPOSIT UPTO RS 1 LAC IN PPF ITSELF AND THE ENTIRE 1 LAC CAN BE AVAILED AS DEDUCTION U/S 80C.
BUT YOU CAN DEPOSIT UPTO RS 1 LAC IN PPF ITSELF AND THE ENTIRE 1 LAC CAN BE AVAILED AS DEDUCTION U/S 80C.
Message likes :
1 times
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 December 2011
Thank You Sir,, Also, please tell me whether earlier,
the limit for deposit was 70,000 or claiming deduction was 70,000 ?? i.e., could we deposit more than Rs.70,000 earlier also ??
the limit for deposit was 70,000 or claiming deduction was 70,000 ?? i.e., could we deposit more than Rs.70,000 earlier also ??
17 December 2011
No earlier the limit was Rs 70000/-. We could not deposit more than 70000/- earlier.
29 December 2011
earlier limit for deposit in PPF in one name was Rs. 70000/- however exemption can be claimed upto 100000/- if you had deposited PPF in the name of your spouse and children
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- RCM INVOICING FROM NOV-2024
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
