Respected sir
Good evening
I came abroad in August 2007 for employment.
I opened a PPF account in May 2008 and every year depositing some amount in it.
Now I came to know that a NRI can not open PPF account.So I am in confusion.
So please guide me that whether this PPF account is valid for me.
If not then what to do ?
If any NRI who was not aware of this fact somehow got a PPF account opened inadvertently, he/she should immediately get that account closed. As per the norms, necessary legal action can be taken against such individuals who open a PPF account in spite of not being eligible. It is in the best interest of NRIs to get it closed before the concerned authorities know about it.
Abic and Mani Chartered Accountants
Kottayam
B.Com
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M N Rao & Associates LLP
Vijayawada
CA Inter
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CCI
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