taxability Arrears of salary recieved deposited in PF A/c

mam please tell me first how the full amount is deposited in pf. in pf a percentage of salary is deposited not all salary

U WANT TO DEPOSIT AMOUNT IN PUBLIC PROVIDENT FUND??

IF IT IS SO, THEN THE DEDUCTION WOULD BE ALLOWED UNDER SEC 80C TO THE MAXIMUM OF RS.100,000. FURTHER, AS PER PPF RULE, MAXIMUM CONTRIBUTION IS RS.70000 IN A YEAR FROM SINGLE PERSON.

REGARDS,

MANOJ

Dear Manoj,

All are allowed to deposit amount in PPF . There is no any limit. But here as per PF rules minimum amount Rs. 500/- and maximum amount Rs. 70,000/- allowed for tax exemption per annum, per person.

Yes that' what i said. I just mentioned the maxium amount for which deduction should be available u/s 80C. If that person already have the other items for deduction under sec 80C say Rs.50000. Then even is he invested Rs.70,000, he will not allowed to get Rs.70,000 as deduction. He will get maximum PF deduction for Rs.50000 and remaining taxed.

Thus, amount of rebate available is

1. Amount invested in PPF.                OR

2. Total 80C deduction alongwith  PPF investment,

whichever is higher

subject to the maximum of Rs.100,000.

regards,

Manoj