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Ppf deduction

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 July 2014 If any person has already deposited 1 Lacs rupees in PPF account. Now, can he avail the deduction of Rs. 1.5 Lacs in current year if he deposits Rs. 0.50 Lacs more to PPF account?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
16 July 2014 yes. for FY 2014-15, 1.5 lac deduction should be available. But atleast wait for budget to be ratified.
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Querist : Anonymous

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Querist : Anonymous (Querist)
16 July 2014 Is the deduction not available for A.Y. 2014-15?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
16 July 2014 no. not for AY 2014-15...it shall be made applicable for AY 2015-16.

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