i.e. no odd figures can be deposited into PPF. Is this a guideline or is just for interest calculations?
2007-03-03 21:35:31 · 4 answers · asked by Youday 1 in Business & Finance ➔ Taxes ➔ India
INR 70,000/- IS THE MAXIMUM AMOUNT OF PPF CONTRIBUTION [ DURING A FINANCIAL YEAR] THAT IS THE LIMIT OF EXEMPTION ALLOWED FROM THE TOTAL INCOME OF AN INDIVIDUAL ( WITHIN THE OVERALL LIMIT OF INR 1,00,000/-). THERE IS NO RULE OF ROUNDING HUNDREDS BUT IT SHOULD BE ROUNDED RUPEES.
ONE CAN DEPOSIT A CHEQUE TOWARDS PPF. BUT IT SHOULD NOT IN THE LAST WEEK OF A FINANCIAL YEAR. THIS IS TO AVOID IN DELAY OF COLLECTION AND CREDITING THE CONCERNED PPF ACCOUNT BEFORE THE DUE DATE.
2007-03-06 05:42:04 · answer #1 · answered by arpita 3 · 0⤊ 0⤋
yes 70000
is maximum limit to deposit in ppf account you can give cheque for depositing the amount you can deposit once in a month
2007-03-04 09:24:02 · answer #2 · answered by bora_nc 2 · 0⤊ 0⤋
limit per one financial year is 70.000. yes banks will accept cheques for the same..for PPF a/c credits. for further details visit our bank web site www.sbhyd.com
2007-03-04 05:54:01 · answer #3 · answered by srinivasa r 1 · 0⤊ 0⤋
YES
2007-03-06 07:08:23 · answer #4 · answered by shankar 2 · 0⤊ 0⤋