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Relating 80C Deduction (PPF)

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(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/-?
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K V Subba Rao

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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12 October 2009 Interest earned as well as Principal amount withdrawn as per prescribed eligility criterion, are exempt from tax.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
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CA. Gurdeep Singh Chawla

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CA. Gurdeep Singh Chawla (Expert)
12 October 2009 Rs. 70,000/-
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