PPF Subscription Limit increased to Rs. 1.5 lakh -Finance Ministry’s Order
Consequent on increase in savings limit under Section 80 C of Income Tax Act for gettingrebate / exemption on Income Tax to Rs. 1,50,000/-in the recent budget 2014-15, PPF Subscription Limit has been increased Rs. 1,50,000 by Finance Ministry. Communication in this connection from Department of Posts citing Finance Ministry’s Notification for increase in PPF Subscription Limit is as follows.
No. F.No. 113-01/2011-SB
Government of India
Ministry of Communications & IT
Department of Posts
Dak Bhawan, Sansad Marg,
All Heads of Circles/Regions
Addl. Director General, APS, New Delhi.
Subject:- Revision of maximum limit of subscription in a financial year of PPF Account.
Sir / Madam,
The undersigned is directed to convey the decision of the Min. of Finance (DEA) for revision of existing maximum limit of subscription in a financial year in the existing PPF accounts as well as new PPF account to be opened on or after 13.08.2014. Now the subscription in a financial year shall be Rs 1,50,000/- in “place of Rs 1,00,000/- in PPF accounts. The copy of Gazette Notification No. G.S.R. 588 (E) dated 13.08.2014 issued by MOP (DEA) is enclosed.
2. it is requested to circulate this instruction to all field units and ensure that the instruction is strictly followed.
3. This issues with the approval of Competent Authority.