I have a PPF account for 15 years. My 15 years were completed in November’2010. Can I still deposit some amount and later on withdraw after April’ 2011(for tax purpose)?
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I have a PPF account for 15 years. My 15 years were completed in November’2010. Can I still deposit some amount and later on withdraw after April’ 2011(for tax purpose)?
No, you can’t. You need to extend your account for another 5 year, if you want to take tax rebate.
Thanks for your reply!Quote:
Originally Posted by tigershark
Could you please let me know - what is the procedure of closure of account or continuation of PPF account?
PPF provision for your info -Quote:
Originally Posted by shivkumar
Closure of account or continuation of account without deposits after maturity –
Notwithstanding the provisions of sub-paragraph (1), any time after the expiry of 15 years from the end of the year in which the initial subscription was made by him, a subscriber may, if he so desires, apply in Form C or as ‘near thereto as possible together with his pass book to the Accounts Office for the withdrawal of the entire balance standing to his credit and the Accounts Office, on receipt of such an application from the subscriber, shall subject to the provisions of sub-paragraph (4) allow the withdrawal of the entire balance (together with interest up to the last day of the month preceding the month in which the application for withdrawals made) after making adjustments, if any, in respect of any interest due from the subscriber on loans taken by him and close his account.