Hello,
I normally contribute 1.5 lakhs per annum to my PPF account at the Post office.
For FY 18-19, I forgot to do this, and my account is now de-activated.
If possible, I would like to rectify this by paying some small penalty to reactivate the account, and contribute 1.5 lakhs now (in April 2019) for FY 18-19. I will later contribute 1.5 lakhs again, for FY 19-20. I don't mind that I can't take a 80c IT deduction for FY 18-19, I would still like to make the contribution to the account.
Is this allowed?
Thank you