If one has a PPF account in Post office. Can he/she deposit 1 Lakh cash in PPF account of post office ?
If one has a PPF account in Post office. Can he/she deposit 1 Lakh cash in PPF account of post office ?
I would Like to correct you on this the section is 40A(3) and not 40A(2).
There is no such retrictions/limit of Rs. 50,000/- on deposit of cash to bank account and post office accounts.
Moreover I would also like to inform you that the PPF account is opened with the PAN number only. So PAN is a pre requisite.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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