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Ppf deposit doubt

Sanjay Sehgal (Professional) (25 Points)

31 January 2012

I want to know that if we have deposited Rs. 70000/-in PPF Account before December 2011, now can we deposit more Rs. 30000/- in our PPF account to claim the maximum limit of Rs. 100000/-. Kindly reply

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13 Replies

sivaram (Asst Mgr-Taxation) (6918 Points)
Replied 31 January 2012

Yes in a Financial year you can deposit rs 100000 and maximum ceiling under 80c will also be 1 lakh

atul mane (accountant) (124 Points)
Replied 31 January 2012

but sir deduction for ppf ceiling limit is only up to 70,000/-

is it correct.

atul mane (accountant) (124 Points)
Replied 31 January 2012

but sir deduction for ppf ceiling limit is only up to 70,000/-

is it correct.

GOPAL AGGARWAL (DOING NOTHING) (1339 Points)
Replied 31 January 2012

Now we can avail the dedcution of Rs. 1,00,000/- u/s 80C

If I am wrong then please tell me

GOPAL AGGARWAL (DOING NOTHING) (1339 Points)
Replied 31 January 2012

Now we can avail the dedcution of Rs. 1,00,000/- u/s 80C

If I am wrong then please tell me

mannu (1/2 CA) (589 Points)
Replied 31 January 2012

gopal is right....we can deposit max 100,000 rs in ppf .

Anand Desai (CA, CPA) (70 Points)
Replied 01 February 2012

For the AY 2012-13 :

You can deposit max. 1,00,000 Rs. in a PPF account and

avail a deduction under Chapter VI-A (Sec.80C) of Rs.1,00,000 /- for the same.

Regards. .

CA PRAVEEN SINGH (MANAGER ACCOUNTS) (2277 Points)
Replied 01 February 2012

YES U CAN CLAIM....1 LACS...U/S 80 C

CA. Vikash Dwivedi (Financial Planning & Analysis) (3167 Points)
Replied 01 February 2012

yes, you can claim upto Rs.100K on acct of PPF depo.

CA Jeethender (Deputy manager finance) (49 Points)
Replied 01 February 2012

yes u can deposit up to 100,000

Mihir Doshi (B.Com, CA, CS, LLB) (2187 Points)
Replied 01 February 2012

yes now ceiling limit is increased from 70,000/- to 100,000/-

atul mane (accountant) (124 Points)
Replied 05 April 2012

sir can we avail the deduction benefit of rs 1,00,000/- in ppf account & rs-1,00,000/- under 80 c

or we can avail aggreate deduction only upto rs-1,00,000 including all invesments ( ppf + other invesment ) please clear me the meaning

thank you.

Rammohan (NA) (245 Points)
Replied 27 April 2012

Vide notification F.No. 1/9/2011-NS-II], dated 25-11-2011, the annual limit for investment in PPF accounts has been increased from Rs 70,000/- to Rs 1,00,000/-. This increase has become effective from 1.12.2011.

The ceiling for deduction u/s 80C of the Income-Tax Act has remained the same, at Rs 1,00,000/-. This ceiling includes contributions to various permissible avenues u/s 80C , including PPF deposit.