Ppf limit increase
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 December 2011
Has the increase in limit of PPF form Rs.70,000 to Rs.1,00,000 have any effect on upper limit on Sec.80C ??
Earlier, could we not deposit more than Rs.70,000 or depoit beyond that limit wasnt exempted. Kindly answer
Earlier, could we not deposit more than Rs.70,000 or depoit beyond that limit wasnt exempted. Kindly answer
16 December 2011
80C LIMIT REMAINS SAME I.E. RS 1 LAC.
BUT YOU CAN DEPOSIT UPTO RS 1 LAC IN PPF ITSELF AND THE ENTIRE 1 LAC CAN BE AVAILED AS DEDUCTION U/S 80C.
BUT YOU CAN DEPOSIT UPTO RS 1 LAC IN PPF ITSELF AND THE ENTIRE 1 LAC CAN BE AVAILED AS DEDUCTION U/S 80C.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
17 December 2011
Thank You Sir,, Also, please tell me whether earlier,
the limit for deposit was 70,000 or claiming deduction was 70,000 ?? i.e., could we deposit more than Rs.70,000 earlier also ??
the limit for deposit was 70,000 or claiming deduction was 70,000 ?? i.e., could we deposit more than Rs.70,000 earlier also ??
17 December 2011
No earlier the limit was Rs 70000/-. We could not deposit more than 70000/- earlier.
29 December 2011
earlier limit for deposit in PPF in one name was Rs. 70000/- however exemption can be claimed upto 100000/- if you had deposited PPF in the name of your spouse and children
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