Menu
Withdrawal from PPF
Is it possible to withdraw an amount from PPF A/c without attracting tax on it.I think there is a provision in PPF Act .Can't find the exact provision.If yes then upto what limit. :) :) :) :)
Replies (2)
Interesting Question,
I think there is no penalty if you withdraw within limits specified viz., 50% of account balance in previous year or 4th year subsequent to opening of account whichever is less. Please check this though I am writing from memory.
I think there is no penalty if you withdraw within limits specified viz., 50% of account balance in previous year or 4th year subsequent to opening of account whichever is less. Please check this though I am writing from memory.
For the withdrawl you have to consider the rules in the Public Provident Fund. Usually, in the passbook of State Bank earlier withdrawl rules were stated.
You can withdraw 50% of the amount which was outstaing 5 years before. It means you can start withdrawing from 6th years onwards,
You can withdraw 50% of the amount which was outstaing 5 years before. It means you can start withdrawing from 6th years onwards,
Recent Topics :
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
- GST Treatment and Reporting of Share & Mutual
- AGM Defective Notice
- IMS Rejection of Sales and Sales return
- Taxation of Gift - Father to Daughter
- TDS on Property Purchased above 50lakh
- Accounting Treatment in Tally for Restaurant Sales
- Form 146 required
- Rule 86(B) Applicability
Related Topics :
CAclubindia
