Public Provident Fund - PPF

[vijayvaliya]

Re: Who can open a Public Provident Fund PPF account?

What is mean by NRO account on non-repatriable basis ?

Can a PPF account be also opened in name of minor ?

1. NRO (NR)- Non Resident Ordinary (Non-Repatriable) type of account where NRIs can remit funds, which can not be repatriated (can not be taken back to the country of their remittance).

2. PPF can be opened in the minor, with their natural guardians operating the account.

 

[xxdiesel]

How do they calculate 15 years and is there a limit to transfers?

Now that ELSS do not qualify for 80C exemption and the NPS does not attract me, I am re-looking at PPF as an investment option.

I have two questions on the PPF account:

1. I already transfered my PPF account from the city I initially opened to the city I currently reside at. Since I am in a transferable job, is it possible to transfer it more than once? Or is it advisable to continue it at the existing branch and send them a demand draft every year, as they suggested not to transfer PPF account often.

2. The initial lock in of 15 years would be calculated from the date of opening the account or from the date of it being tranferred to the existing branch. It being a government account and being operated at State Bank ofIndia; it is possible that they will give the investor a hard time.

looking forward to your response.

 

[Jesse]

Re: How do they calculate 15 years and is there a limit to transfers?

Now that ELSS do not qualify for 80C exemption and the NPS does not attract me, I am re-looking at PPF as an investment option.

When did this change? when was this exemption taken back?

 

[seetharamank]

Re: How do they calculate 15 years and is there a limit to transfers?

Now that ELSS do not qualify for 80C exemption and the NPS does not attract me, I am re-looking at PPF as an investment option.

I have two questions on the PPF account:

1. I already transfered my PPF account from the city I initially opened to the city I currently reside at. Since I am in a transferable job, is it possible to transfer it more than once? Or is it advisable to continue it at the existing branch and send them a demand draft every year, as they suggested not to transfer PPF account often.

2. The initial lock in of 15 years would be calculated from the date of opening the account or from the date of it being tranferred to the existing branch. It being a government account and being operated at State Bank ofIndia; it is possible that they will give the investor a hard time.

looking forward to your response.

ELSS is still qualify for 80c exemption only when the dtr is amended&implemented elss aswell as ppf will lose its exemption from80c this is for ur kind information sir

 

[seetharamank]

Re: How do they calculate 15 years and is there a limit to transfers?

When did this change? when was this exemption taken back?

there is a proposal in the originalrecomondation of the commitee to do away with all exemptions under 80c but those proposals are diluted as usual by GOI and final decision is awaited under the circumstances the idea is not wellinformed that ELSS is with drawn incidentally i am a MF advisor

 

[pavvu_kk]

As per the second draft of DTC, following are the only instruments where EEE will work:
1. PPF
2. NPS
3. Pure term insurance
4. Infra bonds

 

[xxdiesel]

As per the second draft of DTC, following are the only instruments where EEE will work:
1. PPF
2. NPS
3. Pure term insurance
4. Infra bonds

 

[xxdiesel]

As per the second draft of DTC, following are the only instruments where EEE will work:
1. PPF
2. NPS
3. Pure term insurance
4. Infra bonds

So PPF exemptions stays, awesome.

Could somebody please respond to my queries on PPF mentioned above?

I also read that that the DTC implementation may be delayed by 1 year but neverthless, this is the end of the ELSS era. What a shame.

 

[vijayvaliya]

Re: How do they calculate 15 years and is there a limit to transfers?

Now that ELSS do not qualify for 80C exemption and the NPS does not attract me, I am re-looking at PPF as an investment option.

I have two questions on the PPF account:

1. I already transfered my PPF account from the city I initially opened to the city I currently reside at. Since I am in a transferable job, is it possible to transfer it more than once? Or is it advisable to continue it at the existing branch and send them a demand draft every year, as they suggested not to transfer PPF account often.

2. The initial lock in of 15 years would be calculated from the date of opening the account or from the date of it being tranferred to the existing branch. It being a government account and being operated at State Bank ofIndia; it is possible that they will give the investor a hard time.

looking forward to your response.

1. You can decide to act the way you desire.i.e. either transfering the account to a branch in the city reside or keep it in the existing place. It is highly probable that it may the all ppf accounts may be centrally maintained at single location in the future.

2. Initial lock in is calculated from the date of opening of the account. SBI is a little more procedure bound, but still it will not vanish with your money.

 

[blueninja]

hello vijay

Can u pls adv if opening a pf account in bob or icici will be fine. A i had a hard time with sbi

Tn