if the ppf has matured and bank says cant extend as 1 year crossed...then can we keep the ppf as is and earn the interest from it or is there a time limit within which it shud be withdrawn? also is the interest earned form it tax free?
neha (Others) (386 Points)
10 September 2020if the ppf has matured and bank says cant extend as 1 year crossed...then can we keep the ppf as is and earn the interest from it or is there a time limit within which it shud be withdrawn? also is the interest earned form it tax free?
Gagan Deep Singh
(CHARTERED ACCOUNTANT)
(1190 Points)
Replied 12 September 2020
PPF is matured after 15 years from the date of opening and within next one year you need to intimate whether you want to extend it for another 5 years or not. In case it is not intimated then it will be automatically renewed and you will get interest till it is closed.
PPF interest is tax free.
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