Ppf withdrawal

This query is : Resolved

Eshwar V (Querist)
Follow

22 June 2015 Dear Sir/Madam If PPF Amount is partially withdrawn (NOT NOT LOAN) before completions of 15 years. Does it attracts tax on such income

ALOK GOEL

ALOK GOEL (Expert)
Follow

23 June 2015 You can withdraw only after 6 yrs of opening of PPF a/c. The amount which can be withdrawn after 6 yrs will be 50% of last 4th year balance amount.Example is given below:

PPF opening yr -2010 Bal. 108700
yR - 2011 Bal.- 228960
Yr - 2012 Bal. -358753
yr -2013 Bal. -494567
yR - 2014 Bal.- 648900
Yr - 2015 Bal. -828750

So you can with draw in April 2016 an amount of 358753/2 = 179876.

No Tax is applicable on withdrawal from PPF.