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Ppf exemption rule

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Neha Panwar

Student CA IPC / IPCC

71 Points Posted on 02 January 2020

hello sir,

I want to knw .. for which financial year i will the benefit of deduction of PPF.?
even i after the completion of 15yrs of ppf, i don't withdraw the amount, can i take the deduction of ppf.

thank u

Replies (6)

Quick Summary

This discussion clarifies the rules around claiming tax deductions for Public Provident Fund (PPF) contributions. Contributions made during a financial year are eligible for deduction in that assessment year. Crucially, even after the initial 15-year maturity period, you can continue to claim deductions on deposits made into an extended PPF account, provided you maintain it and deposit the minimum annual amount of Rs 500.

rama krishnan

5751 Points Posted on 03 January 2020

PPF contribution can be claimed as deduction for the amount that has been contributed during the relevant financial year pertaining to the assessment year

Kapadia Pravin

10683 Points Posted on 03 January 2020

After 15 years, you have to apply for extension of PPF A/c for further 5 years. You can apply for extension belatedly also.

The deposit into PpF Account after 15 years will qualify for 80C deduction. (As long as your account is not closed)

Neha Panwar

Student CA IPC / IPCC

71 Points Posted on 03 January 2020

Thank u soo much sir...
Income tax has nothing to do with the year in which it got matured... if i invest for 15 years but withdraw my amount from ppf account after 20 year... inbetween 5yrs i did not invest any single penny then deduction can't be claimed..?