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Ppf withdrawal

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(Querist)
18 July 2013 Hi all,
My client has withdrawn 78250 from his ppf a/c. Is such withdrawal taxable or exempt. Please clarify with reasons for ur answers.
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Ganeshbabu K

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Ganeshbabu K (Expert)
18 July 2013 1)Deposits in a PPF account qualify for a deduction under section 80C.

2)Furthermore, the entire maturity amount including the interest is non-taxable.Sec.10(11)

3)Not only is the interest earned tax free, PPF deposits are exempt from wealth tax too.

Thanks & regards
Ganesh babu k
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
18 July 2013 Author has asked about ppf withdrawal's tax implication?

withdrawal from ppf a/c is not taxable as it is not an income as per sec 2(24).
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