Relating 80C Deduction (PPF)
This query is : Resolved
Smit Sanghvi
(Querist)
12 October 2009
What is the amount of Deduction allowed u/s 80C for PPF for P. Y. 2009-2010 if i withdraw Rs. 50,000/- on 01/06/2009 and deposit Rs. 70,000/- on 30/03/2010? Will my deduction amount to Rs. 70,000/- or Rs. 20,000/-?
K V Subba Rao
(Expert)
12 October 2009
Interest earned as well as Principal amount withdrawn as per prescribed eligility criterion, are exempt from tax. So, in your case, Rs 70000 is eligible for Deduction u/s 80-C.
Visit the following
https://www.themoneyquest.com/2009/02/invest-in-ppf-public-provident-fund.html
Visit the following
https://www.themoneyquest.com/2009/02/invest-in-ppf-public-provident-fund.html
12 October 2009
Rs. 70,000/-
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Capital Gail Exemption Certificate
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
