Amount deposited on 24/06/2020 in PPF 1.50 lakh-for Ass.year 2020-21 & in the same account can we deposit for 1.50lakh for 2021-22
Amount is returned back
PPF dep. for A.Y.2020-21 in 24/06/20 due to COVID & aga. for this year amount can be dep.fr A.Y.21-2
Replies (1)
You are limited to a total of ₹1.5 lakh per financial year. You cannot deposit for two different financial years within one, and any amount exceeding the annual ₹1.5 lakh limit will be treated as an irregular subscripttion, earning no interest and being ineligible for tax benefits.
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