PPF
This query is : Resolved
Subrahmanyam
(Querist)
18 March 2010
Is it true that the PPF scheme will be withdrawn from 1 april 2011 with the introduction of Direct Tax Code..?
If so what will the status of the contributions made till then..?
Pls advice..
If so what will the status of the contributions made till then..?
Pls advice..
Aditya Maheshwari
(Expert)
18 March 2010
No the PPF scheme will not withdrawn w. e. f. 01.04.2011. It is that any withdrawal of amount from PPF invested after 01.04.2011 will not be tax free i. e. you will have o pay tax on the same.
However whatever amount you have invested upto 31.03.2011 and withdrawn any time after that will continue to be tax free under the direct tax code also.
However whatever amount you have invested upto 31.03.2011 and withdrawn any time after that will continue to be tax free under the direct tax code also.
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