Ppf investment under sec 80c clarification required

Tax planning 268 views 2 replies

Hi,

My mother is 72 years old and in the last couple of years her annual income [from various Fixed Deposits] is exceedng the Rs 3 lakh limit set for senior citizens. So to bring down her tax liability, I have asked her to invest in PPF under Section 80C. However, I need a clarification regarding PPF:

Let's say she opens a PPF account this month and deposits Rs 1 lakh in the account for the year 2018-19. This means Rs 1 lakh will be deducted from her total tax liability for 2018-19. But what about the subsequent years? Will the deposits she makes in the PPF account in 2018, 2019, 2020, etc also be considered as deductions under Section 80C for those respective years? 

Thanks!

Debashish

 

 

Replies (2)

Yes....... each year's contribution in the PPF account is eligible for deduction u/s. 80C in the respective year (capped at 1.50 L PA)

Thanks for the clarification!


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
16 June 2026
Sr. Associate / Assistant Manager | TAS / FDD

Boutique Investment Bank & Transaction Advisory Firm

Gurgaon

CA

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details