Deductability of reinvestment of money withdrawn from PPF
This query is : Resolved
24 June 2008
I withdrawn Rs 10000 from PPF account in current FY. Now i wanted to deposit Say Rs 10000 in PPF in same FY.
So what are the tax aspects?
Few Questions are as follows:
1. Withdrawal of Rs 10000 is Taxable or Not? If yes, then Under which section?
2. Would i get deduction of deposit of Rs 10000 in PPF under Section 80C?
3. Latest Provisions related to PPF?
Thanks!!
So what are the tax aspects?
Few Questions are as follows:
1. Withdrawal of Rs 10000 is Taxable or Not? If yes, then Under which section?
2. Would i get deduction of deposit of Rs 10000 in PPF under Section 80C?
3. Latest Provisions related to PPF?
Thanks!!
S.Srinivasaraghavan
(Expert)
24 June 2008
1.Not taxable
2.Yes
2.Yes
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