public provident fund.
This query is : Resolved
24 February 2011
pl.tell me that
can huf in restricted to deposited the amount on PPF a/c.and
whether it is taxable if ppf amount withdrawal before maturity period.?
can huf in restricted to deposited the amount on PPF a/c.and
whether it is taxable if ppf amount withdrawal before maturity period.?
24 February 2011
the restriction amount for PPF is Min : Rs. 500 p.a & max 70000/- p.a
Not taxable..
Not taxable..
24 February 2011
in any case you can not withdraw before the completion of 1st 6 years of PPF account.
24 February 2011
PPF account in name of HUF were discontinued from 13.05.2005. Now the government has decided that all accounts opened in name of HUF shall be compulsorily closed as per notification F.No. F.7/4/2008-NS.II dated 7th December, 2010 issued by the Ministry of finance, Department of Economic Affairs.
Thus, old PPF accounts standing in name of HUF who have completed fifteen years since close of the financial year in which first subscription / deposit was made shall be compulsorily closed on 31st march 2011. In respect of accounts for which such period of fifteen years is not yet over, they shall also be compulsorily closed after expiry of period of such fifteen years.
Thus, old PPF accounts standing in name of HUF who have completed fifteen years since close of the financial year in which first subscription / deposit was made shall be compulsorily closed on 31st march 2011. In respect of accounts for which such period of fifteen years is not yet over, they shall also be compulsorily closed after expiry of period of such fifteen years.
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