80c deduction

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Querist : Anonymous

Querist : Anonymous (Querist)

17 November 2012 dear sir/madam,

what is the maximum limit of PPF deduction u/s 80C.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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17 November 2012 Rs. 1 lakh per annum if there is no other deposits / payments in other qualifying schemes mentioned in the referred section.

CA Prashant Gupta

CA Prashant Gupta (Expert)
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17 November 2012 agree with Mr. B.Chackrapani. but one more thing need to be kept in mind that as per PPF rules you can depsoit only 70,000/- p.a. if u depsoit more than that you will not get interest on excess amount.

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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17 November 2012 Public Provident Fund Act,1968 is amended vide Notification GSR(E)& SO(E) dated November 25,2011 whereby the investment limit is enhanced to Rs.1,00,000/- per annum.