HELLO FRIENDS, IF A PERON IS EMPLOYEE AND HIS GPF IS DEDUCTED CAN HE ALSO OPEN THE PPF A/C IN THE POST OFFICE FOR TAX SAVINGS PURPOSE U/S 80C
6 Replies
Sowmya P K
(Chartered Accountant)
(251 Points)
Replied 12 September 2010
Hi Raj Kumar
There is no restriction for opening a PPF account. Anybody can open and get deduction u/s 80C. Of course, the maximum amount of all the investments eligible u/s 80C (including PPF and GPF) cannot exceed 1 lakh.
Manoj BG
(Tax Professional and in Service)
(1795 Points)
Replied 12 September 2010
AGREED WITH SOUMYA.
REGARDS,
MANOJ
Chinmay
(Accounts Professional)
(356 Points)
Replied 13 September 2010
Hi Friends,
I think, the limit for PPF A/c exemption is restricted to Rs.70,000/-***
Santosh
(Student ( Final Year - New ))
(348 Points)
Replied 13 September 2010
agreed with Sowmya P K
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