70000 is permissible limit pa.
Max Deduction for investing in PPF
Page no : 2
CA Atul Singhal
(prop)
(450 Points)
Replied 12 January 2010
| Originally posted by : Bimal Thacker | ||
 |
If you want to take deduction of 100000 under section80C by investing only in PPF then invest Rs.70000 in self account and RS.30000in spouse |  |
Ya i agree with u. Deduction of Rs.100000 can be taken be this way.
CA Radhika Arde
(Chartered Accountant)
(67 Points)
Replied 12 January 2010
Yes Max Deduction is Rs.70,000/-
Vivekranjan
(CA FINAL)
(99 Points)
Replied 12 January 2010
For Sec. 80C the limit is Rs.1,00,000/- but under Sec. 80 C the limit for PPF is Rs.70,000/- and you can open only one PPF account in any one bank.
Yash Sharma
(CA - FINAL)
(138 Points)
Replied 30 January 2010
deduction upto Rs. 70,000 is allowed for PPF.
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