PPF investment

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This query is : Resolved

R K Sarma (Querist)

04 February 2008 I have open a PPF account on 13 March,2001 and deposit Rs 25000. Upto March 2007 I have deposited Rs 25000 per year. From thia year ending March 2008 onwards I would like to deposit Rs 70000 per year till 2015. Now if I withdraw Rs 70000 per year in the begining of the financial year say April 2008 and deposit the same by February 2009 will my balance affected.

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)

04 February 2008 Your query is not clear to me.

1.You are permitted to withdraw only as per PPF rules.
2. If you with draw in April (beginning of financial year)the balance will get reduced, till you make it up in Feb (almost at the end of year), there is no doubt!

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)

04 February 2008

CA. Vineet Grover

CA. Vineet Grover (Expert)

05 February 2008 Hi Mr Sharma,

You may withdraw the entire amount at one go after 15 years or you may withdraw the 1st despoit after 5 years and so on and so forth.

The PF is calculated on the balance outstanding as at 31st March.

Rgds/
Vineet

Garima

Garima (Expert)

07 February 2008 pl first see whether every year drawing is possible in PPF it is not a savings or current account so withdrawing every year is not possible there is certain limit in withdrawing money from PPF

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