Regarding PPF Investment.

This query is : Open

Guest

Guest (Querist)

22 March 2010 A is an individual.

A has not invested in PPF for the following years :

2005-06
2006-07
2007-08
2008-09

Now, A paid Rs.2000/- (minimum Rs.500/- per year) along with PPF default fee of Rs.200/- (Rs.50/- per default year).

A also has paid Rs.1000/- for the current FY 2009-10.

Query :

Whether A can consider full amount Rs.3000/- (as Rs.2000/- is related to previous 4 years) of PPF investment under Section 80C for the Income Tax Return to be filed for the current AY 2010-11.

I shall wait for the experts response on the query.

Nazir

Nazir (Expert)
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22 March 2010 late fee will not be considered in 80 C, he can claim 2000/- only.

Nazir

Guest

Guest (Querist)

22 March 2010 Thanks Nazir.

From your reply, I conclude that Rs.2000/- (previous 4 years payment made during this current FY) plus Rs.1000/- pertaining to the current FY can be claimed under Section 80C.

If I am not mistaken, I may mention that my query has been only related to the PPF Investment amounts (and not relating the PPF default fee).

Thank you so much Nazir.

May I ask you for any supporting substantiating the statement, if possible ?

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