PPF

This query is : Open

CA CS Bhumika Thakkar (Querist)
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22 July 2009 if PPF is going to be matured the next year..and we withdraw d 80% allowable amount this yr..den wat are the consequences ??
like is only the interest not allowed in last yr..or sumthg else too.. ??

Shyam Lal Naik

Shyam Lal Naik (Expert)
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22 July 2009 The maximum allowable withdrawl if

50% of the balance at the end of
(a) 4th year immidiately preceeding the year of withdrawl or

(b) the preceeding year

which ever is lower.

Interest is compounded annually but accrues daily. Hence, interest should be allowed till the date of withdrawl.

No other consequences.