Can I change installment of a PPF account every year?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 rohith asked over 3 years ago

Can I change installment of a PPF account every year? Say for for 1st year I invest 25000 & for next year, Can I change it to 2500?

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2 Answers
Data?1494421730 rohit awasthi answered over 3 years ago

dear rohith you can contribute minimum 500.00 and maximum 150000 as per income tax act how much money you are going to invest it is your decision you can get benefit only 150000 in income tax

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 CHITRANJAN AGARWAL answered over 3 years ago

Dear Rohith, As per the provision of income tax act 1961 read with the provision of PPF act, you can invest under PPF accounts a maximum amount of rupees of 1.5 lakhs. however its your choice which amount you want to invest in PPF. such investment amount may vary from year to year i.e. you can change investment amount every year. their is no legal liability to invest the constant amount every year. In nut shell you can invest in 1st year of rs 15000 and in the next year of rs. 1500 or 1000 Any other query feel free to contact us. Writer CA Chitranjan Agarwal

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