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What about PPF for HUFs?
The rules applying to HUF’s PPF accounts have been modified with effect from May 2005. While earlier an HUFcould open a PPF account and save tax through a deduction-, this has now been stopped Read more ...
Posted by : jyoti_sahoo on 5/31/2015 9:49:00 AM
Category: Investment	2742 times read.	0 Comments
Tags: taxplanning,

What about nominations in PPF?
It’s very important to ensure that you have a nominee on your PPF account, who in the event of your death willreceive the PPF corpus. You can nominate one or more persons to receive the amount standing to your credit in theevent of your death. Use Form E to make initial nominations, and if you wish Read more ...
Posted by : jyoti_sahoo on 5/31/2015 9:45:00 AM
Category: Investment	2562 times read.	0 Comments
Tags: taxplanning,

What about nominations in PPF?
It’s very important to ensure that you have a nominee on your PPF account, who in the event of your death willreceive the PPF corpus. You can nominate one or more persons to receive the amount standing to your credit in theevent of your death. Use Form E to make initial nominations, and if you wish Read more ...
Posted by : jyoti_sahoo on 5/31/2015 9:44:00 AM
Category: Investment	2287 times read.	0 Comments
Tags: taxplanning,

Is it true that if I open an account in my minor child’s name and I also have my own PPF account, then I am only eligible for Rs 1.5 lakh exemption totally for both accounts?
Yes, this is true. Considering that your child is a minor, you as the parent / guardian are not entitled to dualexemption of up to Rs 3 lakh, The exemption limit remains at Rs 1.5 lakh for a minor child Read more ...
Posted by : jyoti_sahoo on 5/31/2015 9:43:00 AM
Category: Investment	2990 times read.	0 Comments
Tags: taxplanning,

Is it true that as an NRI, I can’t open a PPF account?
Yes, this is true. The rule pronounced on July 25, 2003 states that ‘Non Resident Indians are not eligible to open anaccount under the PPF Scheme’. But there is a silver lining for some NRIs. If you already had a PPF account, whenyou were resident in India, and during the tenure of the PPF account Read more ...
Posted by : jyoti_sahoo on 5/31/2015 9:42:00 AM
Category: Investment	5365 times read.	0 Comments
Tags: taxplanning,

How do I close, transfer or extend my PPF account?
You can close the account after completion of 15 years or the expiry of 15 years from the close of the financial yearin which the initial subscription was made. The whole amount in this account can be withdrawn at the time ofclosure. For closure of account, you should apply in ‘Form C’ and also Read more ...
Posted by : jyoti_sahoo on 5/31/2015 9:41:00 AM
Category: Investment	3144 times read.	0 Comments
Tags: taxplanning,

What happens if I forget to invest one year?
Your account is considered de-activated Read more ...
Posted by : jyoti_sahoo on 5/31/2015 9:39:00 AM
Category: Investment	2218 times read.	0 Comments
Tags: taxplanning,

What are my options once my PPF account matures?
This is an interesting fact that not a lot of people, and in fact not a lot of banks know Read more ...
Posted by : jyoti_sahoo on 5/31/2015 9:38:00 AM
Category: Investment	2121 times read.	0 Comments
Tags: taxplanning,

Can I make withdrawals from my PPF account? What is the schedule?
Yes, you can make one withdrawal per year starting from your seventh year (through an application vide Form C).The first withdrawal can be done after the expiry of 5 full financial years from the end of the year in which yourinitial subscription was made Read more ...
Posted by : jyoti_sahoo on 5/31/2015 9:34:00 AM
Category: Investment	1827 times read.	0 Comments
Tags: taxplanning,

Can I take a loan against my PPF account? What are the rules and how much loan can I take?
Yes, you can take a loan from the fund in case of need. You don’t have to wait till you become eligible for withdrawals from the account Read more ...
Posted by : jyoti_sahoo on 5/31/2015 9:32:00 AM
Category: Investment	1599 times read.	0 Comments
Tags: taxplanning,

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