public provident fund

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Harpreet (Querist)
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16 May 2011 Hello,

According to Sec 6 of the Public Provident Fund Scheme, 1968 we can transfer the account.
My query is when we tranfer bank account then any tax or charge is bear?

U S Sharma

U S Sharma (Expert)
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16 May 2011 the status of account would be same as PPF, only place would get change,
neither funds nor any change in name/beneficiary would happen, so no tax

say you are maintaining the PPF in mumbai and shifted to bangalore, then u can request the banker to transfer the account to bangalore, thats all about the PPF

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