80c deduction
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 November 2012
dear sir/madam,
what is the maximum limit of PPF deduction u/s 80C.
what is the maximum limit of PPF deduction u/s 80C.
17 November 2012
Rs. 1 lakh per annum if there is no other deposits / payments in other qualifying schemes mentioned in the referred section.
CA Prashant Gupta
(Expert)
17 November 2012
agree with Mr. B.Chackrapani. but one more thing need to be kept in mind that as per PPF rules you can depsoit only 70,000/- p.a. if u depsoit more than that you will not get interest on excess amount.
17 November 2012
Public Provident Fund Act,1968 is amended vide Notification GSR(E)& SO(E) dated November 25,2011 whereby the investment limit is enhanced to Rs.1,00,000/- per annum.
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