PPF withdrawal after 15 years
This query is : Resolved
23 April 2010
Hi
I have my PPF account.I have now completed 15 years of that account.
- So if I withdraw the entire amount, will it be taxable ?
- If I have balance now of 1 lac at end of 15th year, can I withdraw 70% and continue with balance 30 %
Pl revert
I have my PPF account.I have now completed 15 years of that account.
- So if I withdraw the entire amount, will it be taxable ?
- If I have balance now of 1 lac at end of 15th year, can I withdraw 70% and continue with balance 30 %
Pl revert
23 April 2010
NO PPF MATURITY AMOUNT WILL NOT BE TAXABLE.
23 April 2010
The account can be closed after completion of 15 full financial years or the expiry of 15 years from the close of the financial year in which the initial subscription was made. This is, of course, optional and the subscriber can continue the account even after the period of 15 years for any number of further blocks of 5 years by exercising an option in form 'H'.
FOR ENTIRE DETAILS GO TO FOLLOWING LINK----
https://www.statebankoftravancore.com/ppf.htm
FOR ENTIRE DETAILS GO TO FOLLOWING LINK----
https://www.statebankoftravancore.com/ppf.htm
CA Ravi Sisodia
(Expert)
23 April 2010
not taxable
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