Giridhar S Karandikar
(Team Lead)
(7543 Points)
Replied 21 May 2012
there is no such requirement under the PPF Act, that a particular amount shud be deposited in the account each month. You can deposit any amount you want each month or anytime during the year, but deduction u/s 80C wud be restricted only upto Rs 1lacs. also you will have to deposit minium 500Rs for the year, otherwise you would have to pay penalty charges for keeping the account active.
Kapil Tiwari
(Senior Export Executive)
(449 Points)
Replied 21 May 2012
Dear Sirs,
My query is whether we can deposit two or more instalments in one month only. I deposited two instalments in one month only, that is, April, 2012. In any case my total instalments will not exceed 12 in the whole year. Is it okay if I made two subscripttions in one month only? Kindly address this particular doubt.
Giridhar S Karandikar
(Team Lead)
(7543 Points)
Replied 22 May 2012
Yes you can do that, no issues with it.
TELUGU SATYANARAYANA
(ADVOCATE and TAX CONSULTANT)
(172 Points)
Replied 23 May 2012
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)