04 February 2008
I have open a PPF account on 13 March,2001 and deposit Rs 25000. Upto March 2007 I have deposited Rs 25000 per year. From thia year ending March 2008 onwards I would like to deposit Rs 70000 per year till 2015. Now if I withdraw Rs 70000 per year in the begining of the financial year say April 2008 and deposit the same by February 2009 will my balance affected.
1.You are permitted to withdraw only as per PPF rules. 2. If you with draw in April (beginning of financial year)the balance will get reduced, till you make it up in Feb (almost at the end of year), there is no doubt!
07 February 2008
pl first see whether every year drawing is possible in PPF it is not a savings or current account so withdrawing every year is not possible there is certain limit in withdrawing money from PPF
CAclubindia
