ashwani (na) (210 Points)
17 November 2016Respected Sir/Madam, I have a PPF A/c Kindly let me know that if i deposit money 31 March so shall i eligible fot tax deduction u/s 80 C ? And will i get interest on such an amount deposited from next financial year starting from 1 st April in the same year.
Or it will not be eligible for interest as deposited during previous year ?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177713 Points)
Replied 17 November 2016
Yes, for the year deposited.(80C)
No interest for the current financial year, but yes, from next financial year on the last day of that financial year, compounded every year.
ashwani
(na)
(210 Points)
Replied 18 November 2016
Thank you sir for your expert's advice to me .
Thanks
Ashwani
CAclubindia
