Comments on: All you want to know about Public Provident Fund Scheme (PPF), 1968 (Updated) http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html Complete Tax Solution Fri, 10 Feb 2012 11:17:22 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: kirti http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-10/#comment-483550 kirti Fri, 03 Feb 2012 08:05:55 +0000 http://www.taxguru.in/?p=19246#comment-483550 Hello, I have doubt regarding amount to be put for minor. The rule copied from above is given below: <i> Limit of subscription:- (1) Any individual may, on his own behalf or on behalf of a minor of whom he is the guardian, subscribe to the Public Provident Fund (thereafter referred to as the fund) any amount not less than Rs. 500 and not more than Rs. 70,000 in a year. (Increased to Rs. 1,00,000 from 1.12.2011 vide NOTIFICATION [F.No. 1/9/2011-NS-II], dated 25-11-2011) </i> Doesn't "not more than 70,000" imply that total amount that I can put is Rs 70,000 including my account and my child's account? Hello,
I have doubt regarding amount to be put for minor. The rule copied from above is given below:

Limit of subscription:-

(1) Any individual may, on his own behalf or on behalf of a minor of whom he is the guardian, subscribe to the Public Provident Fund (thereafter referred to as the fund) any amount not less than Rs. 500 and not more than Rs. 70,000 in a year. (Increased to Rs. 1,00,000 from 1.12.2011 vide NOTIFICATION [F.No. 1/9/2011-NS-II], dated 25-11-2011)

Doesn’t “not more than 70,000″ imply that total amount that I can put is Rs 70,000 including my account and my child’s account?

]]> By: O.P.GUPTA http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-10/#comment-483510 O.P.GUPTA Thu, 02 Feb 2012 12:24:42 +0000 http://www.taxguru.in/?p=19246#comment-483510 whether ppf account can be maintained in two banks simultaneously by the same person whether ppf account can be maintained in two banks simultaneously by the same person

]]> By: Yog Raj Wadhwa http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-10/#comment-483207 Yog Raj Wadhwa Sat, 28 Jan 2012 15:09:28 +0000 http://www.taxguru.in/?p=19246#comment-483207 Dear Mr. Prakash Answers to your quarries dated December 21, 2011 & January 15, 2012. Only one account can be opened in the name of any individual. One can also deposit the money in the name of spouse and children. The limit for the current year is Rs. 100,000 for each of the accounts. However the maximum limit that one can claim under sec. 80C of Income Tax is Rs. 100,000/-whether the money is deposited in one or more accounts. Dear Mr. Prakash

Answers to your quarries dated December 21, 2011 & January 15, 2012.

Only one account can be opened in the name of any individual.

One can also deposit the money in the name of spouse and children.

The limit for the current year is Rs. 100,000 for each of the accounts.

However the maximum limit that one can claim under sec. 80C of Income Tax is Rs. 100,000/-whether the money is deposited in one or more accounts.

]]> By: abhijit ghavle http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-10/#comment-482769 abhijit ghavle Sun, 22 Jan 2012 18:00:12 +0000 http://www.taxguru.in/?p=19246#comment-482769 I am having two ppf a/c ,one ppf a/c in the name of my HUF and second ppf a/c in the name of my minor son.. Can I deposit 1 lakh each in both ppf accounts from my savings account of HUF in a financial year. IF yes how much amount i can claim for exemption of IT U/S 80 C? I am having two ppf a/c ,one ppf a/c in the name of my HUF and second ppf a/c in the name of my minor son.. Can I deposit 1 lakh each in both ppf accounts from my savings account of HUF in a financial year. IF yes how much amount i can claim for exemption of IT U/S 80 C?

]]> By: prakash http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-10/#comment-482068 prakash Sun, 15 Jan 2012 06:43:32 +0000 http://www.taxguru.in/?p=19246#comment-482068 I Have a ppf account in my name. Can I open a PPF account in my spouse's name, who is a house wife and not filing IT Returns. I Have a ppf account in my name. Can I open a PPF account in my spouse’s name, who is a house wife and not filing IT Returns.

]]> By: Dr.N.C.Padhi http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-10/#comment-481938 Dr.N.C.Padhi Fri, 13 Jan 2012 16:33:10 +0000 http://www.taxguru.in/?p=19246#comment-481938 My PPF account will mature on31st March this year. If I do not withdraw the amount but continue to keep it in the Bank will it be eligible to taxfree interest as before. Do I have the option to withdraw the entire amount when ever I want after the maturity. Please someone answer my query. Thanks - Dr Padhi My PPF account will mature on31st March this year. If I do not withdraw the amount but continue to keep it in the Bank will it be eligible to taxfree interest as before. Do I have the option to withdraw the entire amount when ever I want after the maturity.

Please someone answer my query. Thanks
- Dr Padhi

]]> By: Brindabon Samanta http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-10/#comment-481902 Brindabon Samanta Fri, 13 Jan 2012 10:44:36 +0000 http://www.taxguru.in/?p=19246#comment-481902 Mistakenly I deposited an amount after 15 years but I did not fill in the Form H to extend after 15 years. I want to withdraw the entire money credited at the end of 15 years and want to discontinue it. May I know what is the procedure or what I need to do and what will happen what I deposited at the 16th year? Regards Brindabon Samanta Mistakenly I deposited an amount after 15 years but I did not fill in the Form H to extend after 15 years. I want to withdraw the entire money credited at the end of 15 years and want to discontinue it. May I know what is the procedure or what I need to do and what will happen what I deposited at the 16th year?

Regards Brindabon Samanta

]]> By: A.N.Sharma http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-10/#comment-481868 A.N.Sharma Fri, 13 Jan 2012 06:40:44 +0000 http://www.taxguru.in/?p=19246#comment-481868 Can rural branches accept PPF contribution? Can rural branches accept PPF contribution?

]]> By: kcn http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-10/#comment-481602 kcn Wed, 11 Jan 2012 03:01:26 +0000 http://www.taxguru.in/?p=19246#comment-481602 I closed my PPF account after 21 yrs. I had not paid anything in for a year, and was advised to close and withdraw. I am 60. Can I start a new PPF account. I closed my PPF account after 21 yrs. I had not paid anything in for a year, and was advised to close and withdraw. I am 60. Can I start a new PPF account.

]]> By: Amey http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-9/#comment-481279 Amey Fri, 06 Jan 2012 13:11:58 +0000 http://www.taxguru.in/?p=19246#comment-481279 Sir, I have a ppf account with SBI, it been now 13years old, which iam planning to extend it for 5 years after completion of 15years. i want to know as per rule the A/c gets closed after 20 years i.e. 15+5, after that too can i hold ppf a/c with out depositing any money in that but just hold it to interest accumulated year after year, say for another 2 more years. Thanks, Amey Sir, I have a ppf account with SBI, it been now 13years old, which iam planning to extend it for 5 years after completion of 15years. i want to know as per rule the A/c gets closed after 20 years i.e. 15+5, after that too can i hold ppf a/c with out depositing any money in that but just hold it to interest accumulated year after year, say for another 2 more years. Thanks, Amey

]]> By: Prakash http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-9/#comment-479290 Prakash Wed, 21 Dec 2011 09:14:30 +0000 http://www.taxguru.in/?p=19246#comment-479290 Hello, I have a query. I have a Minor son in whose name a PPF a/c has been opened. In the same bank I and my wife both have individual PPF a/cs also. In August this year, I deposited Rs. 70000 in each of my and wife's a/c from respective bank a/cs. I also deposited Rs. 70000 in my Minor son's a/c from my bank a/c. The bank accepted the same. When I was told by my CA that the total amount that can be deposited between a parent and Minor son is Rs. 70000, I wrote a letter explaining the bank that by mistake or oversight Rs 70000 was deposited in my a/c as well as my Minor son's a/c and hence asked the return of the money wrongly deposited. The bank's senior officer told me that it is not a problem and that I will continue getting interest in all three a/cs (father, mother and minor son). So I wrote another letter to the bank that I have been advised by your own officer that I will contiue to get interest in all three a/cs and if I do not get interest then I am not responsible as I had offered to reverse the deposit but the bank officer assured me that it was not necessary.........On 1st Dec 2011, I deposited Rs. 30000 in my and wife's PPF a/c BUT did not deposit Rs. 30000 in my Minor son's PPF a/c fearing loss of interest on the amount.........Can you / anyone advise on the issue ? Many Thanks. Hello, I have a query. I have a Minor son in whose name a PPF a/c has been opened. In the same bank I and my wife both have individual PPF a/cs also. In August this year, I deposited Rs. 70000 in each of my and wife’s a/c from respective bank a/cs. I also deposited Rs. 70000 in my Minor son’s a/c from my bank a/c. The bank accepted the same. When I was told by my CA that the total amount that can be deposited between a parent and Minor son is Rs. 70000, I wrote a letter explaining the bank that by mistake or oversight Rs 70000 was deposited in my a/c as well as my Minor son’s a/c and hence asked the return of the money wrongly deposited. The bank’s senior officer told me that it is not a problem and that I will continue getting interest in all three a/cs (father, mother and minor son). So I wrote another letter to the bank that I have been advised
by your own officer that I will contiue to get interest in all three a/cs and if I do not get interest then I am not responsible as I had offered to reverse the deposit but the bank officer assured me that it was not necessary………On 1st Dec 2011, I deposited Rs. 30000 in my and wife’s PPF a/c BUT did not deposit Rs. 30000 in my Minor son’s PPF a/c fearing loss of interest on the amount………Can you / anyone advise on the issue ? Many Thanks.

]]> By: Yog Raj Wadhwa http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-9/#comment-479099 Yog Raj Wadhwa Tue, 20 Dec 2011 06:48:16 +0000 http://www.taxguru.in/?p=19246#comment-479099 Clarifications on PPF Mr. S K Gupta 1. Nominee gets the payment from the bank in case of death of Account holder. and no further deposits can be made in that account. 2. Under Hindu Sucession Act, It is the Legal Heirs who get the property and Assets of the deceased and Nominee is only a trsutee. Legal Heirs can claim the money / property from him. 3. It is only through REGISTERED WILL that one can pass on / give his Property to any one of his choice in the manner he/she likes. Clarifications on PPF

Mr. S K Gupta

1. Nominee gets the payment from the bank in case of death of Account holder. and no further deposits can be made in that account.

2. Under Hindu Sucession Act, It is the Legal Heirs who get the property and Assets of the deceased and Nominee is only a trsutee. Legal Heirs can claim the money / property from him.

3. It is only through REGISTERED WILL that one can pass on / give his Property to any one of his choice in the manner he/she likes.

]]> By: Anita http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-9/#comment-476924 Anita Thu, 08 Dec 2011 17:03:20 +0000 http://www.taxguru.in/?p=19246#comment-476924 let me know my amount in my PPF a/c No. 31399203165 and oblige. let me know my amount in my PPF a/c No. 31399203165 and oblige.

]]> By: S k Gupta http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-9/#comment-476268 S k Gupta Tue, 06 Dec 2011 14:28:59 +0000 http://www.taxguru.in/?p=19246#comment-476268 I am a 75 year old pensioner . Can I open a ppf account for saving of tax. Also if I make a nomination in the name of a person other than my legal heirs then who would be the beneficiary in the event of my demise during the period of the account. Will the nominee get all the proceeds or they will pass on to my legal heirs. I am a 75 year old pensioner . Can I open a ppf account for saving of tax. Also if I make a nomination in the name of a person other than my legal heirs then who would be the beneficiary in the event of my demise during the period of the account. Will the nominee get all the proceeds or they will pass on to my legal heirs.

]]> By: admin http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-9/#comment-476045 admin Tue, 06 Dec 2011 00:59:56 +0000 http://www.taxguru.in/?p=19246#comment-476045 There is no such restriction in PPF Act. You can open one PPF account of you and one PPF account of each of your minor children. There is no such restriction in PPF Act. You can open one PPF account of you and one PPF account of each of your minor children.

]]> By: sam http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-9/#comment-475965 sam Mon, 05 Dec 2011 18:02:52 +0000 http://www.taxguru.in/?p=19246#comment-475965 I have two minor children. Can I open two ppf accounts on behalf of each of my kids contributing 60000 (Sixty Thousand) i.e. 60k + 60k. Will there be any contravention? Please guide me. I have two minor children. Can I open two ppf accounts on behalf of each of my kids contributing 60000 (Sixty Thousand) i.e. 60k + 60k. Will there be any contravention? Please guide me.

]]> By: Shilpak http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-9/#comment-474089 Shilpak Tue, 29 Nov 2011 11:03:52 +0000 http://www.taxguru.in/?p=19246#comment-474089 Hi Manoj, You being an NRI cannot open a new PPF account and if your wife is also staying with you in UAE, you cannot open in her name also. But if she is staying in India you can open in her name and then you can deposit money into her PPF account. I hope this clarifies... Hi Manoj,

You being an NRI cannot open a new PPF account and if your wife is also staying with you in UAE, you cannot open in her name also.

But if she is staying in India you can open in her name and then you can deposit money into her PPF account.

I hope this clarifies…

]]> By: Ravi http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-9/#comment-473474 Ravi Mon, 28 Nov 2011 05:27:21 +0000 http://www.taxguru.in/?p=19246#comment-473474 Could you please let me know the rate of interest on GPF not PPF (existing 8.6%) Could you please let me know the rate of interest on GPF not PPF (existing 8.6%)

]]> By: anil http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-8/#comment-471588 anil Thu, 24 Nov 2011 12:33:30 +0000 http://www.taxguru.in/?p=19246#comment-471588 take legal advice and first complaint at previous bank of baroda in written,, then complaint in consumer forum, with all the related documents,, take legal advice and first complaint at previous bank of baroda in written,,
then complaint in consumer forum, with all the related documents,,

]]> By: anil http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-8/#comment-471580 anil Thu, 24 Nov 2011 12:29:51 +0000 http://www.taxguru.in/?p=19246#comment-471580 yes, limit is 70000.00 and u can deposit less than 70000.00 or equal to 70000.00 either in lumsum or in installments. ok the no. of installments should not exceed 12. yes, limit is 70000.00 and u can deposit less than 70000.00 or equal to 70000.00 either in lumsum or in installments.
ok
the no. of installments should not exceed 12.

]]> By: MANOJ http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-9/#comment-457726 MANOJ Wed, 02 Nov 2011 17:27:05 +0000 http://www.taxguru.in/?p=19246#comment-457726 I AM WORKING IN UAE, CAN I OPEN A PPF ACCOUNT...CAN I OPEN A PPF ACCOUNT FOR MY WIFE... I AM WORKING IN UAE, CAN I OPEN A PPF ACCOUNT…CAN I OPEN A PPF ACCOUNT FOR MY WIFE…

]]> By: Manisha kumari http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-9/#comment-456165 Manisha kumari Mon, 31 Oct 2011 12:09:52 +0000 http://www.taxguru.in/?p=19246#comment-456165 Attn: sir, iwant to say u that my husband sanjeev kr is employee of allahabad bank.his PF a/c is 26714. i want to know about PF details and his service position. Thnaks Manisha +91-8083457221. Attn: sir,
iwant to say u that my husband sanjeev kr is employee of allahabad bank.his PF a/c is 26714. i want to know about PF details and his service position.
Thnaks
Manisha
+91-8083457221.

]]> By: amit murarka http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-9/#comment-426675 amit murarka Thu, 21 Jul 2011 06:49:54 +0000 http://www.taxguru.in/?p=19246#comment-426675 sir i have opened ppf a/c on 25/09/2001 with rs.100/- after that i have not deposited any amount can i restart my account today sir i have opened ppf a/c on 25/09/2001 with rs.100/- after that i have not deposited any amount can i restart my account today

]]> By: Mahesh Kumar Yadav http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-8/#comment-408441 Mahesh Kumar Yadav Tue, 24 May 2011 06:54:03 +0000 http://www.taxguru.in/?p=19246#comment-408441 I AM WORKING FROM 1987 TO 2001 IN PVT LTD COMPANY MY P F AMOUNT WITH HELD IN THAT COMPANY. AFTER 2001 MY CASE GOING ON IN THE LABOUR COURT, THE LOWER COURT INSTRUCT TO THE COMPANY TO REINSTATE WITH BACKWEGES . BUT NOT REINSTATE ME . NOW CASE GOING ON IN HIGH COURT. AS PER GOVT OF INDIA CIRCULLER AFTER MARCH 31ST NO INTRUST ACCUMLATE ON PF A/C SO I WOULD LIKE TO KNOW IN MY CASE CAN I WITHDROW MY PF AMOUNT. I AM WORKING FROM 1987 TO 2001 IN PVT LTD COMPANY MY P F AMOUNT WITH HELD IN THAT COMPANY. AFTER 2001 MY CASE GOING ON IN THE LABOUR COURT, THE LOWER COURT INSTRUCT TO THE COMPANY TO REINSTATE WITH BACKWEGES . BUT NOT REINSTATE ME . NOW CASE GOING ON IN HIGH COURT. AS PER GOVT OF INDIA CIRCULLER AFTER MARCH 31ST NO INTRUST ACCUMLATE ON PF A/C SO I WOULD LIKE TO KNOW IN MY CASE CAN I WITHDROW MY PF AMOUNT.

]]> By: MKG http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-8/#comment-401252 MKG Wed, 27 Apr 2011 06:40:15 +0000 http://www.taxguru.in/?p=19246#comment-401252 I HAD TO CLOSE MY PPF ACCOUNT IN THE NAME OF MY HUF AS PER THE NEW NOTIFICATION OF GOVT OF INDIA THAT PPF ACCOUNTS OF HUF CANNOT BE EXTENDED BEYOND 15 YEARS. CAN MY HUF DEPOSIT 70,000/- TO MY PERSONAL PPF ( ACCOUNT IN THE NAME OF INDIVIDUAL) AND CLAIM DEDUCTION UNDER SEC 80C ? I HAD TO CLOSE MY PPF ACCOUNT IN THE NAME OF MY HUF AS PER THE NEW NOTIFICATION OF GOVT OF INDIA THAT PPF ACCOUNTS OF HUF CANNOT BE EXTENDED BEYOND 15 YEARS.

CAN MY HUF DEPOSIT 70,000/- TO MY PERSONAL PPF ( ACCOUNT IN THE NAME OF INDIVIDUAL) AND CLAIM DEDUCTION UNDER SEC 80C ?

]]> By: Satendra http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-8/#comment-400553 Satendra Sat, 23 Apr 2011 09:33:16 +0000 http://www.taxguru.in/?p=19246#comment-400553 ppf maximum deposite amount is 70000/- per year but how many installment we can deposite this 70000/- pl guide me ppf maximum deposite amount is 70000/- per year but how many installment we can deposite this 70000/- pl guide me

]]> By: ADV. SUNIL KALE http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-7/#comment-400024 ADV. SUNIL KALE Wed, 20 Apr 2011 17:05:18 +0000 http://www.taxguru.in/?p=19246#comment-400024 HI, SUCCESSION CERTIFICATE IS MANDATORY IN YOUR CASE. write if any help required at sunilkale_2007@rediffmail.com HI,
SUCCESSION CERTIFICATE IS MANDATORY IN YOUR CASE.
write if any help required at sunilkale_2007@rediffmail.com

]]> By: Gurpreet http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-8/#comment-398872 Gurpreet Thu, 14 Apr 2011 11:01:49 +0000 http://www.taxguru.in/?p=19246#comment-398872 Dear Admin/Chain Readers, SUB: PF amount after death My Grand Father was working in MCD and had a P.F account. He passed away. He nominated 2 of his sons his P.F amount. One of the nominated person was my father. He also passed away. Please let me know the procedure to withdraw my late Grand Father's P.F amount. Thanks, Gurpreet Dear Admin/Chain Readers,

SUB: PF amount after death

My Grand Father was working in MCD and had a P.F account. He passed away. He nominated 2 of his sons his P.F amount. One of the nominated person was my father. He also passed away.

Please let me know the procedure to withdraw my late Grand Father’s P.F amount.

Thanks,
Gurpreet

]]> By: Gurpreet http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-8/#comment-398870 Gurpreet Thu, 14 Apr 2011 11:00:15 +0000 http://www.taxguru.in/?p=19246#comment-398870 Dear Admin/Chain Readers, SUB: PF amount after death My Grand father was working in MCD and had a P.F account. He nominated 2 of his sons his P.F amount. One of the nominated person was my father. He also passed away. Please let me know the procedure to withdraw his P.F amount. Thanks, Gurpreet Dear Admin/Chain Readers,

SUB: PF amount after death

My Grand father was working in MCD and had a P.F account. He nominated 2 of his sons his P.F amount. One of the nominated person was my father. He also passed away.

Please let me know the procedure to withdraw his P.F amount.

Thanks,
Gurpreet

]]> By: SANDEEP KAMAT http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-8/#comment-397746 SANDEEP KAMAT Sat, 09 Apr 2011 07:41:34 +0000 http://www.taxguru.in/?p=19246#comment-397746 Sir I had opened a PPF account with Bank of Baroda on 30th MaRCH 1996 at Fertilizernagar Branch Baroda.In year 2006 I got the account transferred to Bank of Baroda Patel Colony Branch,Jamanagar. While transfering due to wrong entry of account History by Bank of Baorda,the starting date of account in the system is 7th September 2006,however as per the actual accounting opening date my account is due for closure on 31st March 2011. I had gone to branch for withdrawal and closure of the PPF account,but they say the account will mature in year 2022. I am in need of the money,please advice where I should put the complaint. Sir I had opened a PPF account with Bank of Baroda on 30th MaRCH 1996 at Fertilizernagar Branch Baroda.In year 2006 I got the account transferred to Bank of Baroda Patel Colony Branch,Jamanagar.
While transfering due to wrong entry of account History by Bank of Baorda,the starting date of account in the system is 7th September 2006,however as per the actual accounting opening date my account is due for closure on 31st March 2011.
I had gone to branch for withdrawal and closure of the PPF account,but they say the account will mature in year 2022.

I am in need of the money,please advice where I should put the complaint.

]]> By: nirav http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-8/#comment-397177 nirav Thu, 07 Apr 2011 14:59:18 +0000 http://www.taxguru.in/?p=19246#comment-397177 i have open ppf account for huf in sbi on 05/06/2008 they are asking me to close this account and also they are verbally asking to close this account as well as they are also verbally intimating that they are not able to give interest in huf account after 31/03/2011. awaiting for answer i have open ppf account for huf in sbi on 05/06/2008 they are asking me to close this account and also they are verbally asking to close this account as well as they are also verbally intimating that they are not able to give interest in huf account after 31/03/2011.

awaiting for answer

]]> By: RAMAVTAR BANGA http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-8/#comment-397043 RAMAVTAR BANGA Thu, 07 Apr 2011 07:56:06 +0000 http://www.taxguru.in/?p=19246#comment-397043 PLEASE ADVISE INTEREST RATE APPLICABLE FOR THE YEAR 2010-2011 & 2011-12. PLEASE ADVISE INTEREST RATE APPLICABLE FOR THE YEAR 2010-2011 & 2011-12.

]]> By: Adinarayana http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-8/#comment-393187 Adinarayana Sun, 27 Mar 2011 17:56:13 +0000 http://www.taxguru.in/?p=19246#comment-393187 Maximum amount that can be deposited in a year in PPF account is Rs.70,000/- Maximum amount that can be deposited in a year in PPF account is Rs.70,000/-

]]> By: ADITYA http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-8/#comment-393147 ADITYA Sun, 27 Mar 2011 14:46:53 +0000 http://www.taxguru.in/?p=19246#comment-393147 What maximum amount can be deposited in PPF account in a year now What maximum amount can be deposited in PPF account in a year now

]]> By: Fazalailahi http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-8/#comment-392840 Fazalailahi Sat, 26 Mar 2011 18:07:58 +0000 http://www.taxguru.in/?p=19246#comment-392840 Respected Sir, My father pass away On 23/11/2009.In His PPF A/C My name is as a First Nominee & Second Nominee is My Step Son 'Asbab', for whom my sister is Appointed guardian. The Amount in PPF A/c Balance more than 5 lakhs.My sister Wants the Charge for to Sign for Withdrawal.Actually the Amount is for to utilise After Asbab's Education.Asbab's Actual & Real Guardians are I & his Mother(My Wife). What Can I Do Now? Respected Sir,
My father pass away On 23/11/2009.In His PPF A/C My name is as a First Nominee & Second Nominee is My Step Son ‘Asbab’, for whom my sister is Appointed guardian. The Amount in PPF A/c Balance more than 5 lakhs.My sister Wants the Charge for to Sign for Withdrawal.Actually the Amount is for to utilise After Asbab’s Education.Asbab’s Actual & Real Guardians are I & his Mother(My Wife). What Can I Do Now?

]]> By: Narendra http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-7/#comment-367183 Narendra Fri, 11 Feb 2011 14:26:56 +0000 http://www.taxguru.in/?p=19246#comment-367183 Dear Sir, One of My Client has expired with left of PPF a/c having more than Rs. 1 lakh. His Nominee is also expired. His one Son is also expired.The Grandson has WILL under which Grandfather has AUTHORISED grandson to take care of the PPF A/c etc. Though he has valid possession of WILL AND LEGEL HIERER ,is thier is requirement to get the Sucession certificate. Since to get Sucession certificate a lot of time has to be consumed. Please advice for alternate root Thanks Dear Sir,

One of My Client has expired with left of PPF a/c having more than Rs. 1 lakh. His Nominee is also expired. His one Son is also expired.The Grandson has WILL under which Grandfather has AUTHORISED grandson to take care of the PPF A/c etc. Though he has valid possession of WILL AND LEGEL HIERER ,is thier is requirement to get the Sucession certificate. Since to get Sucession certificate a lot of time has to be consumed. Please advice for alternate root

Thanks

]]> By: VISHAL PAHADI http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-7/#comment-363561 VISHAL PAHADI Wed, 09 Feb 2011 14:33:36 +0000 http://www.taxguru.in/?p=19246#comment-363561 My father recently passed away,account is very old,there is NO nominee on ppf account the amount is more than 1 lakhs, the nashik post office is asking for succession certificate of court, which is very costly & time consuming and all of my family members are busy in work, so i request you to please tell the exact procedure for getting the provident fund of my father. thanking you. My father recently passed away,account is very old,there is NO nominee on ppf account the amount is more than 1 lakhs,
the nashik post office is asking for succession certificate of court, which is very costly & time consuming and all of my family members are busy in work,
so i request you to please tell the exact procedure for getting the provident fund of my father.

thanking you.

]]> By: Swati Patole http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-7/#comment-356591 Swati Patole Sat, 05 Feb 2011 10:09:26 +0000 http://www.taxguru.in/?p=19246#comment-356591 MY ACCOUNT PPF AC IS OPEN,I WANT TO KNOW MY ACCOUNT DETAILS.HOW I CAN KNOW?.PLEASE REPLY ME MY ACCOUNT PPF AC IS OPEN,I WANT TO KNOW MY ACCOUNT DETAILS.HOW I CAN KNOW?.PLEASE REPLY ME

]]> By: r s p chowdary http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-7/#comment-349515 r s p chowdary Tue, 01 Feb 2011 09:25:23 +0000 http://www.taxguru.in/?p=19246#comment-349515 sir, I have a PPF account on my name and i opened another account onbehalf of my son as iam guardian. last year i deposited 50000 in my account and 40000 in my sons account. so i want clarification, is there any wrong in the above case to deposit more than 70000. sir,
I have a PPF account on my name and i opened another account onbehalf of my son as iam guardian. last year i deposited 50000 in my account and 40000 in my sons account. so i want clarification, is there any wrong in the above case to deposit more than 70000.

]]> By: vishal pahadi http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-7/#comment-336228 vishal pahadi Mon, 24 Jan 2011 14:07:48 +0000 http://www.taxguru.in/?p=19246#comment-336228 dear sir My father recently passed away,account is very old,there is nominee on ppf account the amount is more than 1 lakhs, the nashik post office is asking for succession certificate of court, which is very costly & time consuming and all of my family members are busy in work, so i request you to please tell the exact procedure for getting the provident fund of my father. thanking you. dear sir

My father recently passed away,account is very old,there is nominee on ppf account the amount is more than 1 lakhs,
the nashik post office is asking for succession certificate of court, which is very costly & time consuming and all of my family members are busy in work,
so i request you to please tell the exact procedure for getting the provident fund of my father.

thanking you.

]]> By: Bala http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-7/#comment-327547 Bala Thu, 20 Jan 2011 15:22:07 +0000 http://www.taxguru.in/?p=19246#comment-327547 Dear Sir, I have completed 14 years of contributions to my PPF a/c. Now I purchased house for my own use,can i withdraw all amount from my PPF a/c Please guide me. bala Dear Sir,
I have completed 14 years of contributions to my PPF a/c. Now I purchased house for my own use,can i withdraw all amount from my PPF a/c
Please guide me.
bala

]]> By: pankaj goenka http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-7/#comment-299494 pankaj goenka Fri, 07 Jan 2011 16:24:58 +0000 http://www.taxguru.in/?p=19246#comment-299494 If ppf account holder died in 2002 and nominee wants to withdraw money from ppf in 2011, is nominee will get interest on ppf till 2011. If ppf account holder died in 2002 and nominee wants to withdraw money from ppf in 2011, is nominee will get interest on ppf till 2011.

]]> By: SAPNA LULLA http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-7/#comment-293158 SAPNA LULLA Wed, 05 Jan 2011 05:23:43 +0000 http://www.taxguru.in/?p=19246#comment-293158 I have opened PPF account on Feb 1992 and extended for further 5 years.The account is due for closure in April 2012.If I invest Rs 70000/ in 2012 what will be the Tax liability in at the time of closing the account in April 2012 as the lock in period for the last deposit less than 3 years. I have opened PPF account on Feb 1992 and extended for further 5 years.The account is due for closure in April 2012.If I invest Rs 70000/ in 2012 what will be the Tax liability in at the time of closing the account in April 2012 as the lock in period for the last deposit less than 3 years.

]]> By: Rakhee http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-7/#comment-288809 Rakhee Mon, 03 Jan 2011 10:56:58 +0000 http://www.taxguru.in/?p=19246#comment-288809 Sir, I have ppf a/c in SBBJ in Delhi. May i tranfer my a/c to Patna. Sir,
I have ppf a/c in SBBJ in Delhi. May i tranfer my a/c to Patna.

]]> By: Sivasubramanian http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-7/#comment-288799 Sivasubramanian Mon, 03 Jan 2011 10:44:05 +0000 http://www.taxguru.in/?p=19246#comment-288799 My daughter, IT assessee has invested in PPF in her mother's name, a house wife.She has paid by Cheque to the PPF account.Is my daughter eligible for IT Rebate under 80c? My daughter, IT assessee has invested in PPF in her mother’s name, a house wife.She has paid by Cheque to the PPF account.Is my daughter eligible for IT Rebate under 80c?

]]> By: varun http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-6/#comment-250217 varun Tue, 14 Dec 2010 14:04:53 +0000 http://www.taxguru.in/?p=19246#comment-250217 sir, i hav a ppf acct in SBI Hazaribagh. Opened on 08 Jan 2003. Initially i deposited 20,000/-. After that i hav not deposited any money or operated my account in any way.So now what will be the state of my acct? How do i reactivate it. Also i would like to transfer this account to Delhi. is it possible without having to go to SBI Hazaribagh? sir,
i hav a ppf acct in SBI Hazaribagh. Opened on 08 Jan 2003. Initially i deposited 20,000/-. After that i hav not deposited any money or operated my account in any way.So now what will be the state of my acct? How do i reactivate it. Also i would like to transfer this account to Delhi. is it possible without having to go to SBI Hazaribagh?

]]> By: nageswara rao http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-6/#comment-227733 nageswara rao Fri, 03 Dec 2010 11:25:19 +0000 http://www.taxguru.in/?p=19246#comment-227733 i would like to open a ppf account. can you illustrate me if deposit 50,000 per year after 15 years approx how much i get in return i would like to open a ppf account. can you illustrate me if deposit 50,000 per year after 15 years approx how much i get in return

]]> By: mariyappan http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-6/#comment-221271 mariyappan Mon, 29 Nov 2010 11:51:50 +0000 http://www.taxguru.in/?p=19246#comment-221271 Sir, I have completed 8 years of contributions to my PPF a/c. After 5 years I can now go for withdrawl and again deposit the same amount to my PPF a/c for the next accounting year by way of avoiding Income Tax. Can I continue to do the same every year till 15 yrs.Please guide me. marichennai@yahoo.com Sir,
I have completed 8 years of contributions to my PPF a/c. After 5 years I can now go for withdrawl and again deposit the same amount to my PPF a/c for the next accounting year by way of avoiding Income Tax. Can I continue to do the same every year till 15 yrs.Please guide me. marichennai@yahoo.com

]]> By: g http://taxguru.in/finance/all-you-want-to-know-about-public-provident-fund-scheme-ppf-1968.html/comment-page-6/#comment-220636 g Sun, 28 Nov 2010 19:26:05 +0000 http://www.taxguru.in/?p=19246#comment-220636 Dear sir, my father was holding a ppf (huf) account. he is no more. since it is an very old ppf account hence their is no family tree being mentioned. now it is my mom my younger brother and myself i and my younger brother both are married and have kids. the problem is that their is a dispute among us (both the brothers)who we are unable to clearify that who will claim the ppf amount either the elder son or the younger son of the deceased. kinldy guide us regarding the process. Dear sir,
my father was holding a ppf (huf) account. he is no more. since it is an very old ppf account hence their is no family tree being mentioned. now it is my mom my younger brother and myself i and my younger brother both are married and have kids. the problem is that their is a dispute among us (both the brothers)who we are unable to clearify that who will claim the ppf amount either the elder son or the younger son of the deceased. kinldy guide us regarding the process.

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