CA. SUJAL MEHTA (Service) (3316 Points)
29 July 2014Can now we start investing Rs. 1.50 lacs in PPF? Because banks have not till receive any notification for the same. Will it be eligible for interest and tax saving?
sanjay shah
(properitor)
(71 Points)
Replied 29 July 2014
Also pls advise wether this additional 50 thousand if only to be invested in PPF ?
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 29 July 2014
Yes Sujal,
u can invest upto 1,50,000/- in PPF for getting tax exemption.
Sanjay,
you can invest additional 50,000/- in any of the instrument(lic premium, 5 yr FD,etc) covered under 80C, not only in PPF.
Maximum investment limit for claimimg tax ded u/s 80C is 1,50,000/-
Stranger
(.)
(5531 Points)
Replied 29 July 2014
| Originally posted by : saloni | ||
 |
Yes Sujal, u can invest upto 1,50,000/- in PPF for getting tax exemption. Sanjay, you can invest additional 50,000/- in any of the instrument(lic premium, 5 yr FD,etc) covered under 80C, not only in PPF. Maximum investment limit for claimimg tax ded u/s 80C is 1,50,000/- |
 |
M. N. JHA
(CA)
(8316 Points)
Replied 29 July 2014
1.50 lakh for 80c so u can invest in all instrument cover in this section
Manoj Sadaria
(Practicing Professional)
(253 Points)
Replied 01 August 2014
Hi
I have attached FAQs related to T-2 Form.
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 04 February 2015
Hello,
The minimum amount needed to be invested every year is Rs.500. The maximum amount of investment allowed every year is Rs.1.5 lac. You can make investments through a maximum of 12 installments per year.
Not making the minimum investment in a year will attract a penalty of Rs50.
CAclubindia
