Quote Originally Posted by Absar View Post
Few PPF queries -
1- I had opened my PPF account with General Post Office in April’1996. Can I withdraw maturity value right now?
Yes you can. It depends on your financial requirements.
2- What is the best option i.e. To close this account and Open new-one or extend it for another five years?
I would go for extension for another 5 years. Reason - If you close this account and open another one - you will have to wait for another 15 years for the maturity.
3- If I open a new account - is there any change in New Direct Tax Code Draft regarding rebates and tax free maturity value
No idea.
4- If I extend it for another 5 years, am I eligible to get all tax concessions u/s 80C for these all extended 5 yrs and tax free interest and tax free maturity value after 5years?
Yes, It’s tax free.
6- Is this annual withdrawal and maturity value after 5 yrs is Tax-Free?
Yes, It’s tax free.