In the f.y. 11-12, no amt deposited in ppf a/c-consequences

This query is : Resolved

CA Abhishek Singh (Querist)
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24 July 2012 Hello everyone,

one of my friend as on 31/03/2011 had 10000 (approx) balance in his PPF account. every year he used to deposit rs.500/-.

but in the f.y. 11-12 since he was busy for CA final exam preparation he couldnot deposit any amount in his PPF account ?

what can be the consequences since every year minimum rs.500/- has to be deposited in the account ?

waiting for the views of the expert.

Guest

Guest (Expert)

24 July 2012 Your friend can visit the PPF office & revive the aacount. If by chance it is not revieved then whatever money your friend has deposited will be returned back to him.

Guest

Guest (Expert)

24 July 2012 You can revieve the account by paying 50/- penalty fees for each year of deposits.

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