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.
CAclubindia
