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PPF Account

 

Can a PPF account be allowed to continue if the total deposit in a financial year falls short of the minimum of Rs.500 or should it be closed without interest?

If a subscriber does not subscribe Rs. 500 in the first year, subscriptions paid by him/her will be refunded to him without interest. 

 

If a subscriber does not subscribe Rs. 500 in the first year, subscriptions paid by him/her will be refunded to him without interest. The account will not be considered as validly open. But if the subscriber, after paying Rs. 500 in the first year, defaults on the minimum subscription in the following year, he/she can continue with the PPF account after paying the prescribed default fee along with the arrears in the subscription at the Accounts Office.

Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015

1.ICICI Prudential Tax Plan

2.Axis Tax Saver Fund

3.IDFC Tax Advantage (ELSS) Fund

4.DSP BlackRock Tax Saver Fund

5.Religare Tax Plan

6.Franklin India TaxShield

7.Canara Robeco Equity Tax Saver

8.BNP Paribas Long Term Equity Fund

9.Reliance Tax Saver (ELSS) Fund

10.HDFC TaxSaver

You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds

Invest in Tax Saver Mutual Funds Online -

Invest Online

Download Application Forms

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

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