Sir,
A client has PPF A/c since 20 years.
Now he wants to withdraw the whole amount, as it will b tax free.
If he again wants to invest the amount in next year, will he have to open a new account or continuation of the old account will do?
Ashish Modi (CA FINAL STUDENT) (80 Points)
19 April 2011
Sir,
A client has PPF A/c since 20 years.
Now he wants to withdraw the whole amount, as it will b tax free.
If he again wants to invest the amount in next year, will he have to open a new account or continuation of the old account will do?
Harish Naidu
(Job)
(193 Points)
Replied 19 April 2011
If he is withdrawing whole amount from the said PPF account he cannont continue using that account.
If he wants invest again after some years, he needs to open a new PPF account.
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 19 April 2011
once he withdraw he can not invest the whole amount again in ppf but he would have to open a new ppf and continue with 70000 yearly.
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