Ppf
This query is : Resolved
07 February 2012
can we deposit more than 1 lac in ppf A/c? as nw we r getting deduction of RS. 1 lac.....if no than under wich section?
07 February 2012
No.. Threshhold limit for PPF under 80C is Rs.100000 only.
07 February 2012
You can deposit but total deductions u/s. 80c will be Rs. 100000/-only.
07 February 2012
Fact is that even maximum limit for deposit in PPF in a year is Rs. 100000 which was Rs. 70000 before, now revised to Rs. 1 Lac
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Guest
Guest
(Expert)
07 February 2012
Maximum deduction irrespective of higher amount deposited is RS. 1.00 Lacs
09 February 2012
ya but can we get interest on that deposited amount? bank should accept the amount more than 1.lac?
09 February 2012
Bank will accept only amount of Rs. 1 Lac p.a. in PPF A/c. Bank can accept deposit in any other account i.e. corresponding savings account which is required to be opened for opening a PPF A/c
10 February 2012
but here the bank had accpted the amount around 3. lacs.....wat about that amount? and their interest?
10 February 2012
Interest as applicable for PPF will be provided only on Rs. 1 lac and balance amount of Rs. 2 Lac will attract interest of savings a/c rate
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