Huge information for these investing in PPF! Adjustments to withdraw cash – PPF Public Provident Fund PPF Calculator Authorities notifies PPF Scheme 2019 makes some tweaks | Enterprise – Information in Hindi


Big news for those investing in PPF! These rules related to changed account

The Government of India has notified the PPF (Public Provident Fund, PPF) Scheme 2019.

The Government of India has notified the PPF (Public Provident Fund, PPF) Scheme 2019. Under the new rules, the rules for premature closure of PPF account in PPF Scheme 2019 (PPF Scheme, 2019) have changed.

  • News18
  • Last Updated:
    December 19, 2019, 6:10 PM IST
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  • Edited by: Puja menon
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new Delhi. If you have also invested in PPF Yani Public Public Provident Fund for your future, then this news is very important for you. Because the government has changed many new rules related to PF account. Under the new rules, PPF account is now allowed to be closed prematurely after the completion of 5 financial years. Apart from this, the government has also changed the rules of loan. It is clear that if you have taken a loan against your PPF account, then you will have to pay one percent less interest. Let us tell you that tax rebate is available under Section 80C on investments up to Rs 1.5 lakh in PPF account annually. There is no tax on interest income. The amount received on maturity is also not covered by tax. In view of so many tax benefits, people open PPF account in their bank / post office. With this help people add a lot of money.

(1) Deposit money cannot be seized- The money deposited in PPF cannot be seized under the new notification issued by the Finance Ministry. The new manual is named Public Provident Fund Scheme-2019 (PPF Scheme 2019).

>> After the implementation of this manual, all the previous rules related to PPF were neutralized with immediate effect.

>> Under the new rule, PPF deposits cannot be confiscated. In the event of any debt or liability on the account holder, even if there is a court order, the amount deposited in PPF will not be forfeited.(2) You can deposit money even after 15 years There is a provision in the new rules to deposit money in PPF account even after maturity. On the completion of 15 years after the end of the year in which the PPF account opens, the account holder can expand his account and deposit more money in it for a period of five years.

(3) Only one PPF account will be opened in the name of a person- Only one PPF account can be opened in the name of a person. An application for opening an account can be made in Form-1.

>> A person can also open a PPF account for every such minor or retarded person, which he is not effective.>> Only one account can be opened in the name of a minor or retarded person. In no case can a joint account be opened.

Also read: Government's Bharat Bond Scheme will double in 1 lakh days! Know the answers to all the questions related to it

Benefits of PPF?

PPF has to invest at least Rs 500 every year and you can invest up to Rs 1.50 lakh in every financial year. In PPF, tax benefit is available on the basis of the limit applicable under Section 80C of the Income Tax Act. The best thing is that the income tax is waived on the investment amount, interest, and maturity amount.

Form change-

>> Account opening form – Form A to Form 1
>> Contribution Form – Previous Form B
>> Partial Withdrawal – Form C to Form 2
>> Account closure after maturity – Form C to Form 3
>> PPF loan – Form D to Form 2
>> Extension Form – Form H to Form 4
>> Premature Completion – N / A to Form 5
>> Nomination – Form E to Form 1

Also read: Government is bringing new rules to buy and sell property, these people will have direct impact

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First published: December 19, 2019, 6:05 AM IST

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