Saction 80c - ppf limit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2014 Can 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?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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29 July 2014 Yes you can start investing once Finance Act 2014 comes into force. You will be eligible for deduction upto Rs 1.50 lacs u/s 80C for FY 2014-15.

Rupesh Jain

Rupesh Jain (Expert)
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02 August 2014 yes you can make investment in PPF u/s 80C for the year 2014-15

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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02 August 2014 Rupesh ji bank will accept upto Rs 1 lac only till the finance bill is enacted. So investment beyond Rs 1 lac and upto Rs 1.5 lac can be made only after enactment of the Finance Bill.