October 30, by Basavaraj Tonagatti Public Provident Fund or PPF is a great tool to invest not only for tax saving but also the best debt investment product. Note-We deactivated commenting option for this particular post from readers.
An annuity or a lump sum amount is paid to the dependant or to a nominee for the benefit of the dependant in the event of the death of the individual depositing the money, from the said scheme, Amount of deduction: A deduction of Rs 75, is available.
Death of the dependant occurs before that of the assessee: If the death of the dependant occurs before that of the assessee, the amount in the scheme is returned to the individual and is taxable in his hands in the year that it is received.
An individual should furnish a copy of the issued certificate by the medical board constituted either by the Central government or a state government in the prescribed form, along with the return of income of the year for which the deduction is claimed,However as per new rule 12 no document is to be attached with Income tax return.
The term 'dependant' here refers to For Individual: Further Dependant themselves haven't claimed a deduction for the disability under section 80U in computing their total incomes.
Check other deduction Complete section is reproduced here under Deduction in respect of maintenance including medical treatment of a dependant who is a person with disability. Provided that where such dependant is a person with severe disability, the provisions of this sub-section shall have effect as if for the words "seventy-five thousand rupees", the words "one hundred and twenty-five thousand rupees" had been substituted.
Provided that where the condition of disability requires reassessment of its extent after a period stipulated in the aforesaid certificate, no deduction under this section shall be allowed for any assessment year relating to any previous year beginning after the expiry of the previous year during which the aforesaid certificate of disability had expired, unless a new certificate is obtained from the medical authority in the form and manner, as may be prescribed, and a copy thereof is furnished along with the return of income.Compulsory liquidation.
A compulsory liquidation order was made against Carillion, on the petition of the companies’ directors, on 15 January Do you want to invest in your Public Provident Fund (PPF) account online without going to the bank physically? If YES, then there is a good news for you.
Paper PerFect Formation Analyzer measuring the sheet uniformity at unachievable with traditional single such as strength and printability. The PPF Formation Values are relative to “perfect paper” and to. If you hadn’t already retired when your pension scheme transferred to the PPF, this will be shown on the Illustration and Retirement Options form that we will send you shortly before your normal retirement .
A consultation produced by the HM Government. This is the full version containing all consultation questions. The online version is available at.
Aug 22, · PPF: Find Latest Stories, Special Reports, News & Pictures on PPF. Read expert opinions, top news, insights and trends on The Economic Times.