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?
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
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