Menu
Nri ppf
Hi, NRI can extend his PPF account on expiry of PPF ACCOUNT after 15 years.
Replies (1)
An amendment was made to Rule 3 of PPF Scheme 1968 vide MOF Notification No. GSR 585(E) dated 25.7.2003; Non Resident Indians are not eligible to extend/continue PPF account after maturity.
.
It has been clarified by the Ministry of Finance that accounts opened under such category cannot continue beyond maturity; therefore any subscriptttion made by the depositor is irregular and not entitled for interest. Amount deposited after maturity, shall be refunded to the account holder without interest.
.
- MOF Letter F.No.3/4/2012-NS-II, dated 16.07.2012
.
[Information Courtesy: National Savings Institute]
Recent Threads
- Revised Income tax return karna padega kya
- Registration as deductor on traces site
- Rental Income from a Joint Holding property
- Itr 4 return filing question
- Whether GST applicable on Hardship Compensation pa
- ITC cannot be denied to Bona Fide Buyers for Suppl
- Unused ITC for Hotel after GST Change
- CA FINAL SPOM
- 44ad presumption of tax
- Friendly loan to blood relative?
Related Threads
CAclubindia
