Ppf withdrawal
This query is : Resolved
22 June 2015
Dear Sir/Madam
If PPF Amount is partially withdrawn (NOT NOT LOAN) before completions of 15 years. Does it attracts tax on such income
23 June 2015
You can withdraw only after 6 yrs of opening of PPF a/c. The amount which can be withdrawn after 6 yrs will be 50% of last 4th year balance amount.Example is given below:
PPF opening yr -2010 Bal. 108700
yR - 2011 Bal.- 228960
Yr - 2012 Bal. -358753
yr -2013 Bal. -494567
yR - 2014 Bal.- 648900
Yr - 2015 Bal. -828750
So you can with draw in April 2016 an amount of 358753/2 = 179876.
No Tax is applicable on withdrawal from PPF.
PPF opening yr -2010 Bal. 108700
yR - 2011 Bal.- 228960
Yr - 2012 Bal. -358753
yr -2013 Bal. -494567
yR - 2014 Bal.- 648900
Yr - 2015 Bal. -828750
So you can with draw in April 2016 an amount of 358753/2 = 179876.
No Tax is applicable on withdrawal from PPF.
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