TDS on Salary All in One for W.B.Govt employees for F.Y.2016-17 and A.Y.2017-18 With Deduction 80D as per Budget 2016-17

The person who paid medical insurance premium himself or spouse or parents or depended on children can claim the deduction from total income of the person as per the instructions are given below. We will discuss here the complete detail about deduction under section 80D.

Free Download TDS on Salary All in One  for West Bengal State Employees for the Financial Year 2016-17 & Assessment Year 2017-18 as per the Budget 2016-17[Prepare at a time Tax Compute Sheet + Individual Salary Structure + Individual Salary Sheet + Automatic H.R.A. Exemption Calculation + Automated Form 16 Part A&B and Part B for F.Y.2016-17 & A.Y.2017-18]

Who can claim deduction 80D?

Individual and HUF assessee can claim the deduction under section 80D for any medical insurance premium known as MEDICLAIM.
Note: The deduction is allowed only under an approved scheme of General Insurance Corporation of India or any contribution made to Central Government Health Scheme or any similarly notified scheme.

Maximum deduction allowed u/s 80D

Check how many deductions of medical insurance premium, you can claim for self and your parent.

F.Y.2016-17/A.Y.2017-18  

The case I – You are below 60 Years – Rs.25,000 and Your parents are also below 60 years – Rs. 25,000 then aggregate Rs. 50,000.
Case II – You are below 60 Years – Rs.25,000 But Your parents are above 60 years – Rs. 30,000 then aggregate Rs. 55,000.

Important Points Related to Deduction under section 80D

  • You must note here that the deduction is allowed only if the payment is made from your own income during the pervious year.
  • Any premium for health insurance or Central Govt Health Schemes (CGHS) shall be made by any mode except cash. However, cash payment shall be accepted if paid during preventive health check-up.
  • Payment made via credit card/internet banking shall also be eligible for deduction.
  • The main and important point of Deduction for Medical Insurance Premium (MEDICLAIM) under section 80D is that, it does not include in the deduction under section 80C (Rs.1,50,000 in total). In simple words, you can get deduction under section 80D extra over section 80C.
  • Now, it is immaterial that parents are dependent on you or not. You can claim the tax deduction for medical insurance premium paid for your parents whether they are dependent on you or not.  The condition of dependency of parents is eliminated w.e.f. A.Y. 2009-10.

Tax Planning by MEDICLAIM (Medical Insurance Premium) Under Section 80D

  • So it is a good strategy to pay your medical insurance premium yearly for you, wife/husband, children, and parents.
  • You can get tax deduction of up to Rs.65000 under section 80D including preventive health check of Rs.5000 (self + family)
  • The other thing you must note that medical insurance premium paid for parents having more benefits. It is immaterial that parents are depended on or not.
The person who paid medical insurance premium himself or spouse or parents or depended on children can claim the deduction from total income of the person as per the instructions are given below. We will discuss here the complete detail about deduction under section 80D.

Free Download TDS on Salary All in One  for West Bengal State Employees for the Financial Year 2016-17 & Assessment Year 2017-18 as per the Budget 2016-17[Prepare at a time Tax Compute Sheet + Individual Salary Structure + Individual Salary Sheet + Automatic H.R.A. Exemption Calculation + Automated Form 16 Part A&B and Part B for F.Y.2016-17 & A.Y.2017-18]

Who can claim deduction 80D?

Individual and HUF assessee can claim the deduction under section 80D for any medical insurance premium known as MEDICLAIM.
Note: The deduction is allowed only under an approved scheme of General Insurance Corporation of India or any contribution made to Central Government Health Scheme or any similarly notified scheme.

Maximum deduction allowed u/s 80D

Check how many deductions of medical insurance premium, you can claim for self and your parent.

F.Y.2016-17/A.Y.2017-18  

The case I – You are below 60 Years – Rs.25,000 and Your parents are also below 60 years – Rs. 25,000 then aggregate Rs. 50,000.
Case II – You are below 60 Years – Rs.25,000 But Your parents are above 60 years – Rs. 30,000 then aggregate Rs. 55,000.

Important Points Related to Deduction under section 80D

  • You must note here that the deduction is allowed only if the payment is made from your own income during the pervious year.
  • Any premium for health insurance or Central Govt Health Schemes (CGHS) shall be made by any mode except cash. However, cash payment shall be accepted if paid during preventive health check-up.
  • Payment made via credit card/internet banking shall also be eligible for deduction.
  • The main and important point of Deduction for Medical Insurance Premium (MEDICLAIM) under section 80D is that, it does not include in the deduction under section 80C (Rs.1,50,000 in total). In simple words, you can get deduction under section 80D extra over section 80C.
  • Now, it is immaterial that parents are dependent on you or not. You can claim the tax deduction for medical insurance premium paid for your parents whether they are dependent on you or not.  The condition of dependency of parents is eliminated w.e.f. A.Y. 2009-10.

Tax Planning by MEDICLAIM (Medical Insurance Premium) Under Section 80D

  • So it is a good strategy to pay your medical insurance premium yearly for you, wife/husband, children, and parents.
  • You can get tax deduction of up to Rs.65000 under section 80D including preventive health check of Rs.5000 (self + family)
  • The other thing you must note that medical insurance premium paid for parents having more benefits. It is immaterial that parents are depended on or not.

All in One TDS on Salary( Prepare at a time Tax Compute sheet+ Individual Salary Structure +HRA Exemption + Arrears Relief Calculation with Form 10E +Form 16 Part B +Form 16 Part A&B for salaried person for FY 2016-17 And AY 17-18)

The Financial Year 2016-17 has already  started From the 1st April 2016  and Tax deduction can be made as per the Finance Budget 2016, the Tax Slab have not changed, same as previous financial year 2016-17.

But Limit of  some Tax Section has Increased by this Finance Budget.

The Section 80U have increased 75000/- P.A. and Rs. 125000/- P.A. for Blind persons.

Traveling Allowances also raised up to 1600/- P.M. and Blind Person can avail Rs. 3200/- P.M.

Section 80D Raised Rs. 25000/- and Sr.Citizen Rs. 30,000/-  

Additional House Building Interest U/s 80EE has increased from Rs.1 Lakh to 1.5 Lakh, excluding the Tax Section 24B.

It is necessary to calculate your Tax Liability for the Financial Year 2016-17 for guess the actual Tax Liability for the Financial Year 2016-17 and you can Plan how  to save tax for this Financial Year FY 2016-17.

Below Given Excel Based up dated Income Tax Software All in One for all type of Employees like as Govt employees and also Non-Govt employees.

The below given Excel based Software which can prepare at a time Income Tax Computed Sheet + Automatic Arrears Relief Calculator + Automatic House Rent Exemption calculation + In built Salary Structure for both Govt & Non Govt employees which can prepared on the basis of Salary Pattern of each Govt and Non Govt concerned +Automated Arrears Relief Calculation with Form 10E + Automated Form 16 Part A&B + Automated Form 16 Part B for the Financial Year 2016-17 and Assessment Year 2017-18.

It is most hazards to calculate individually HRA Calculation separately another sheet and also it is hazard to calculate the Arrears Relief Calculation from the financial Year 2001-02 to 2016-17. This Excel Utility can prepare all the calculation just a moment. Thus your time may reduce for calculating the actual Income Tax of each employee.

Feature of this Utility:-

·         Automatic Calculate Income Tax with Tax Computed sheet individually

·         Individual Salary Structure for calculating the Gross Salary Income 

·         Salary Structure have prepare on the Basis of Govt and Non Govt Salary Pattern

·         Automatic Calculate the House Rent Exemption Calculation U/s 10(13A)

·         Automatic Calculate the Arrears Relief Calculation with Form 10E since 2001-02 to 2016-17

·         Automated Form 16 Part A&B

·         Automated Form 16 Part B

·         Automatic Convert the Amount in to In Words



Click here to Download the Excel Based Software All in One for F.Y.2016-17 [ This Excel Utility can prepare at a time tax compute sheet for Govt & Non-Govt employees + Individual Salary Structure + Automatic H.R.A. Calculation + Automatic Arrears Relief Calculator with Form 10E + Automatic Form 16 Part A&B and Form 16 Part B]

The Financial Year 2016-17 has already  started From the 1st April 2016  and Tax deduction can be made as per the Finance Budget 2016, the Tax Slab have not changed, same as previous financial year 2016-17.

But Limit of  some Tax Section has Increased by this Finance Budget.

The Section 80U have increased 75000/- P.A. and Rs. 125000/- P.A. for Blind persons.

Traveling Allowances also raised up to 1600/- P.M. and Blind Person can avail Rs. 3200/- P.M.

Section 80D Raised Rs. 25000/- and Sr.Citizen Rs. 30,000/-  

Additional House Building Interest U/s 80EE has increased from Rs.1 Lakh to 1.5 Lakh, excluding the Tax Section 24B.

It is necessary to calculate your Tax Liability for the Financial Year 2016-17 for guess the actual Tax Liability for the Financial Year 2016-17 and you can Plan how  to save tax for this Financial Year FY 2016-17.

Below Given Excel Based up dated Income Tax Software All in One for all type of Employees like as Govt employees and also Non-Govt employees.

The below given Excel based Software which can prepare at a time Income Tax Computed Sheet + Automatic Arrears Relief Calculator + Automatic House Rent Exemption calculation + In built Salary Structure for both Govt & Non Govt employees which can prepared on the basis of Salary Pattern of each Govt and Non Govt concerned +Automated Arrears Relief Calculation with Form 10E + Automated Form 16 Part A&B + Automated Form 16 Part B for the Financial Year 2016-17 and Assessment Year 2017-18.

It is most hazards to calculate individually HRA Calculation separately another sheet and also it is hazard to calculate the Arrears Relief Calculation from the financial Year 2001-02 to 2016-17. This Excel Utility can prepare all the calculation just a moment. Thus your time may reduce for calculating the actual Income Tax of each employee.

Feature of this Utility:-

·         Automatic Calculate Income Tax with Tax Computed sheet individually

·         Individual Salary Structure for calculating the Gross Salary Income 

·         Salary Structure have prepare on the Basis of Govt and Non Govt Salary Pattern

·         Automatic Calculate the House Rent Exemption Calculation U/s 10(13A)

·         Automatic Calculate the Arrears Relief Calculation with Form 10E since 2001-02 to 2016-17

·         Automated Form 16 Part A&B

·         Automated Form 16 Part B

·         Automatic Convert the Amount in to In Words



Click here to Download the Excel Based Software All in One for F.Y.2016-17 [ This Excel Utility can prepare at a time tax compute sheet for Govt & Non-Govt employees + Individual Salary Structure + Automatic H.R.A. Calculation + Automatic Arrears Relief Calculator with Form 10E + Automatic Form 16 Part A&B and Form 16 Part B]

You can claim H.R.A. Exemption for both HRA and home loan Interest or Principle U/s 80C and U/s 24B and U/s 10(13A)

You can claim tax benefit for both, but only if you fulfill the conditions :-

If you are living on rent and also servicing a home loan, you can take advantage of claiming tax exemption for both house rent allowance (HRA) and repayment of a home loan. The equated monthly installment (EMI) against your home loan is a combination of principal repayment and interest on the outstanding loan. All three—HRA, principal repayment, and interest payment—can be claimed as an exemption under separate sections of the Income-tax Act. However, there are certain conditions that you need to fulfill before you can do so. Let’s have a look at these.

Download House Rent Exemption Calculator U/s 10(13A)

Exemptions and deductions
Income tax rules allow tax payers to claim exemption against some investments and expenses that the assessee has incurred out of her gross income. While the exemption for HRA can be claimed under section 10(13A) of the Income-tax Act, principal repayment of a home loan and interest on it can be claimed under sections 80C and 24b, respectively.
HRA can be claimed as lowest of actual HRA received from the employer or 50% of the salary for employees living in metro cities (40% for those residing in cities other than metro) or actual rent paid minus 10% of salary (basic + dearness allowance + turnover based commission).
Principal repayment exemption can be claimed up to the threshold limit under section 80C, which is Rs.1.5 lakh, or the actual principal repaid, whichever is less.
Similarly, interest repayment can be claimed up to the threshold limit under section 24b, which is Rs. 2 lakh (if the house is self-occupied) or actual interest paid on the home loan, whichever is lesser. In case the house you own is rented out, you can claim the entire interest you pay on the home loan as the deduction.
What are the requisites?
You can claim HRA exemption if you are living on rent, whereas you claim the deduction for repayment of the home loan. You can claim tax benefit for both, but only if you fulfill the conditions.
Let’s say you have bought a house by taking a home loan and you also live in it. In this case, you will not be able to claim HRA, but will be able to claim tax benefits on both the principal and interest.
If you have bought a house with the help of a home loan and live in another house on rent, you can claim tax benefit for both. But if the house you bought and the house you live in are in the same city, you should have a genuine reason for not living in the house that you own. The reasons could be that the house you own is too far from your workplace, or the commute is very difficult.

You may need to provide these explanations to your employer, or the income tax authority in case there is a scrutiny of the details that you have provided.

You can claim tax benefit for both, but only if you fulfill the conditions :-

If you are living on rent and also servicing a home loan, you can take advantage of claiming tax exemption for both house rent allowance (HRA) and repayment of a home loan. The equated monthly installment (EMI) against your home loan is a combination of principal repayment and interest on the outstanding loan. All three—HRA, principal repayment, and interest payment—can be claimed as an exemption under separate sections of the Income-tax Act. However, there are certain conditions that you need to fulfill before you can do so. Let’s have a look at these.

Download House Rent Exemption Calculator U/s 10(13A)

Exemptions and deductions
Income tax rules allow tax payers to claim exemption against some investments and expenses that the assessee has incurred out of her gross income. While the exemption for HRA can be claimed under section 10(13A) of the Income-tax Act, principal repayment of a home loan and interest on it can be claimed under sections 80C and 24b, respectively.
HRA can be claimed as lowest of actual HRA received from the employer or 50% of the salary for employees living in metro cities (40% for those residing in cities other than metro) or actual rent paid minus 10% of salary (basic + dearness allowance + turnover based commission).
Principal repayment exemption can be claimed up to the threshold limit under section 80C, which is Rs.1.5 lakh, or the actual principal repaid, whichever is less.
Similarly, interest repayment can be claimed up to the threshold limit under section 24b, which is Rs. 2 lakh (if the house is self-occupied) or actual interest paid on the home loan, whichever is lesser. In case the house you own is rented out, you can claim the entire interest you pay on the home loan as the deduction.
What are the requisites?
You can claim HRA exemption if you are living on rent, whereas you claim the deduction for repayment of the home loan. You can claim tax benefit for both, but only if you fulfill the conditions.
Let’s say you have bought a house by taking a home loan and you also live in it. In this case, you will not be able to claim HRA, but will be able to claim tax benefits on both the principal and interest.
If you have bought a house with the help of a home loan and live in another house on rent, you can claim tax benefit for both. But if the house you bought and the house you live in are in the same city, you should have a genuine reason for not living in the house that you own. The reasons could be that the house you own is too far from your workplace, or the commute is very difficult.

You may need to provide these explanations to your employer, or the income tax authority in case there is a scrutiny of the details that you have provided.

Automated TDS on Salary All in One for Non-Govt Employees for F.Y.2016-17 and A.Y.2017-18, With all about PPF and its tax benefits for F.Y.2016-17

What is PPF ?

PPF stands for Public Provident Fund which is backed by Indian Government. PPF is the most common investment for a number of decades. It's features like guaranteed return, tax exemption under section 80C as well as tax-free interest makes it the most popular investment among the risk adverse investors. Any person whether employed or self-employed can invest in the scheme.

Another benefit in PPF is that the amount in PPF account cannot be attached under a court order for recovery of a loan or liability.

Download Automated TDS on Salary All in One for Non-Govt Employees for F.Y.2016-17 & A.Y.2017-18 [ This Excel Based Utility can prepare at a time Individual Tax Compute Sheet + Individual Salary Structure + Individual Salary Sheet + Automatic H.R.A. Exemption Calculation U/s 10(13A) + Automated Form 16 Part A&B and Form 16 Part B for F.Y.2016-17 as per the Finance Budget 2016]


 1. Tax Benefits 
1.       Tax exemption under section 80C up to a limit of Rs. 1,50,000.
2.         Interest is tax-free. It is not taxable at the time of accrual nor at the time of receipt. Premature withdrawal is also exempt from tax.
3.        Tax exemption under section 80C can be availed by parents in case of deposits by a minor. Total amount deposited by parent along with minor cannot exceed Rs. 1,50,000 thus total deduction under section 80C cannot exceed Rs. 1,50,000 in any case.

2. Interest

The interest rate is decreased to 8.10% for the year 2016-17.
Interest is compounded annually and credited at the end of every financial year. If an amount is deposited on or before 5th of the month then interest is credited for the whole month otherwise interest will not be given for the whole month. Interest is not calculated day wise but calculated monthly.
PPF Interest Rate Chart
Financial Year
PPF Interest Rate
2000-01
 11%
2001-02
 9.5%
2002-03
 9%
2003-04
 8%
2004-05
 8%
2005-06
 8%
2006-07
 8%
2007-08
 8%
2008-09
 8%
2009-10
 8%
2010-11
 8%
2011-12
 8.6%
2012-13
 8.8%
2013-14
 8.7%
2014-15
 8.7%
2015-16
 8.7%
2016-17
 8.1%

3. Opening PPF A/c 

1.      Can be open in post offices or any authorised banks.
2.      Can be open by minors.
3.      Can’t be opened in joint names.
4.      Can’t be opened by HUF, NRI. However, if someone opens a PPF Account while he is a Resident of India but subsequently becomes an NRI, he shall be allowed to continue investing in his account.
5.     The nominee can be appointed by the account holder. After the death of account holder, the nominee cannot continue the account.
6.     The date of realization of a cheque in Government account shall be the date of opening of an account.
7.      A Power of attorney holder can neither open or operate a PPF account.
8.     The grandfather/mother cannot open a PPF account on behalf of their minor grandson/daughter.
9.     A person can open only one PPF account.
        Document required for opening a PPF account
        Account opening form – Form A

4. Depositing Amount

1.    The maximum amount that can be deposited in a year is Rs. 1,50,000
2.    After opening account minimum Rs. 500 is to be deposited each year. The penalty is Rs. 50 for default per financial year.
3.     The amount can be deposited not more than 12 times in a year and not more than 2 times in a month.
4.      The deposits shall be in multiple of Rs.100/- subject to minimum amount of Rs.500.
5.      The amount can by deposited by cash or cheque or via online payment.

5. Period and Lock-in period

PPF account is opened for a period of 15 years. However, on expiry account can be extended to a period of 5 years at a time. It can be extended any number of times for a period of 5 years each.
Application form H for extension of period

6. Withdrawal of Amount from PPF

There is a lock-in period of 15 years and the money can be withdrawn in whole after its maturity period. However, premature withdrawals can be made at the end of the sixth financial year from the year in which account is opened.
The maximum amount that can be withdrawn pre-maturely is equal to 50% of the amount that stood in the account at the end of the 4th year preceding the year in which the amount is withdrawn or the end of the preceding year whichever is lower.After 15 years of maturity, full amount can be withdrawn.

7. Closure of Account

1.  Premature closure is not allowed before 15 years except in the case of death.
2.   Nominee/legal heir of PPF Account holder on the death of the account holder can not continue the account, but the account has to be closed.

8. Documents required for opening PPF account

    ·                          A recent passport size photograph.
    ·                          Identity Proof copy with original to verify (Even PAN Card may be accepted as all tax payers are having it)
    ·                          Address Proof copy with original to verify
    ·                          Account opening form for PPF
   ·                          Paying-in slip for PPF a/c
   ·                          Nomination form for PPF

9.PPF Forms

1.     Form A – To open a Public Provident Fund (PPF) Account
2.     Form B – To deposit amount in PPF Account or to repay loans taken against PPF account
3.     Form C – To make partial withdrawals from a PPF account
4.    Form D – To request a loan against a PPF account
5.     Form E – To add a nominee to a PPF account
6.      Form F – To make changes to PPF account nomination information
7.       Form G – To claim funds in a PPF account by a nominee/legal heir
8.       Form H – To extend the maturity period of a PPF account

10. List of Banks where PPF Account can be opened

  ·                          State Bank of India (SBI)
  ·                          ICICI Bank
  ·                          Axis Bank
  ·                          State Bank of Travancore
  ·                          State Bank of Hyderabad
 ·                          State Bank of Mysore
 ·                          State Bank of Bikaner and Jaipur
 ·                          State Bank of Patiala
 ·                          Allahabad Bank
 ·                          Bank of Baroda
 ·                          Bank of India
 ·                          Bank of Maharashtra
 ·                          Canara Bank
 ·                          Central Bank of India
 ·                          Corporation Bank
 ·                          Dena Bank
 ·                          IDBI Bank
 ·                          Indian Overseas Bank
 ·                          Oriental Bank of Commerce
 ·                          Punjab National Bank
 ·                          Union Bank of India
 ·                          United Bank of India
 ·                          Andhra Bank
 ·                          Vijaya Bank
 ·                          Punjab and Sind Bank
 ·                          Uco Bank

11. Extension of Account beyond 15 years

The basic period of the account is 15 years however account holders can choose to extend the tenure. Tenures can be extended in 5-year blocks with or without making further investments.
·                          If no fresh investments are made after maturity, the account can continue earning interest on the amount accrued in the account until the end of year 15. Also, in this case, funds can be withdrawn freely once every financial year.

·                          If fresh investments are made after maturity – The interest will be calculated as per available balance in an account. However, in this case, withdrawals will be restricted to a maximum of 60% of the amount held in the account at the start of each 5-year period of extension.

What is PPF ?

PPF stands for Public Provident Fund which is backed by Indian Government. PPF is the most common investment for a number of decades. It's features like guaranteed return, tax exemption under section 80C as well as tax-free interest makes it the most popular investment among the risk adverse investors. Any person whether employed or self-employed can invest in the scheme.

Another benefit in PPF is that the amount in PPF account cannot be attached under a court order for recovery of a loan or liability.

Download Automated TDS on Salary All in One for Non-Govt Employees for F.Y.2016-17 & A.Y.2017-18 [ This Excel Based Utility can prepare at a time Individual Tax Compute Sheet + Individual Salary Structure + Individual Salary Sheet + Automatic H.R.A. Exemption Calculation U/s 10(13A) + Automated Form 16 Part A&B and Form 16 Part B for F.Y.2016-17 as per the Finance Budget 2016]


 1. Tax Benefits 
1.       Tax exemption under section 80C up to a limit of Rs. 1,50,000.
2.         Interest is tax-free. It is not taxable at the time of accrual nor at the time of receipt. Premature withdrawal is also exempt from tax.
3.        Tax exemption under section 80C can be availed by parents in case of deposits by a minor. Total amount deposited by parent along with minor cannot exceed Rs. 1,50,000 thus total deduction under section 80C cannot exceed Rs. 1,50,000 in any case.

2. Interest

The interest rate is decreased to 8.10% for the year 2016-17.
Interest is compounded annually and credited at the end of every financial year. If an amount is deposited on or before 5th of the month then interest is credited for the whole month otherwise interest will not be given for the whole month. Interest is not calculated day wise but calculated monthly.
PPF Interest Rate Chart
Financial Year
PPF Interest Rate
2000-01
 11%
2001-02
 9.5%
2002-03
 9%
2003-04
 8%
2004-05
 8%
2005-06
 8%
2006-07
 8%
2007-08
 8%
2008-09
 8%
2009-10
 8%
2010-11
 8%
2011-12
 8.6%
2012-13
 8.8%
2013-14
 8.7%
2014-15
 8.7%
2015-16
 8.7%
2016-17
 8.1%

3. Opening PPF A/c 

1.      Can be open in post offices or any authorised banks.
2.      Can be open by minors.
3.      Can’t be opened in joint names.
4.      Can’t be opened by HUF, NRI. However, if someone opens a PPF Account while he is a Resident of India but subsequently becomes an NRI, he shall be allowed to continue investing in his account.
5.     The nominee can be appointed by the account holder. After the death of account holder, the nominee cannot continue the account.
6.     The date of realization of a cheque in Government account shall be the date of opening of an account.
7.      A Power of attorney holder can neither open or operate a PPF account.
8.     The grandfather/mother cannot open a PPF account on behalf of their minor grandson/daughter.
9.     A person can open only one PPF account.
        Document required for opening a PPF account
        Account opening form – Form A

4. Depositing Amount

1.    The maximum amount that can be deposited in a year is Rs. 1,50,000
2.    After opening account minimum Rs. 500 is to be deposited each year. The penalty is Rs. 50 for default per financial year.
3.     The amount can be deposited not more than 12 times in a year and not more than 2 times in a month.
4.      The deposits shall be in multiple of Rs.100/- subject to minimum amount of Rs.500.
5.      The amount can by deposited by cash or cheque or via online payment.

5. Period and Lock-in period

PPF account is opened for a period of 15 years. However, on expiry account can be extended to a period of 5 years at a time. It can be extended any number of times for a period of 5 years each.
Application form H for extension of period

6. Withdrawal of Amount from PPF

There is a lock-in period of 15 years and the money can be withdrawn in whole after its maturity period. However, premature withdrawals can be made at the end of the sixth financial year from the year in which account is opened.
The maximum amount that can be withdrawn pre-maturely is equal to 50% of the amount that stood in the account at the end of the 4th year preceding the year in which the amount is withdrawn or the end of the preceding year whichever is lower.After 15 years of maturity, full amount can be withdrawn.

7. Closure of Account

1.  Premature closure is not allowed before 15 years except in the case of death.
2.   Nominee/legal heir of PPF Account holder on the death of the account holder can not continue the account, but the account has to be closed.

8. Documents required for opening PPF account

    ·                          A recent passport size photograph.
    ·                          Identity Proof copy with original to verify (Even PAN Card may be accepted as all tax payers are having it)
    ·                          Address Proof copy with original to verify
    ·                          Account opening form for PPF
   ·                          Paying-in slip for PPF a/c
   ·                          Nomination form for PPF

9.PPF Forms

1.     Form A – To open a Public Provident Fund (PPF) Account
2.     Form B – To deposit amount in PPF Account or to repay loans taken against PPF account
3.     Form C – To make partial withdrawals from a PPF account
4.    Form D – To request a loan against a PPF account
5.     Form E – To add a nominee to a PPF account
6.      Form F – To make changes to PPF account nomination information
7.       Form G – To claim funds in a PPF account by a nominee/legal heir
8.       Form H – To extend the maturity period of a PPF account

10. List of Banks where PPF Account can be opened

  ·                          State Bank of India (SBI)
  ·                          ICICI Bank
  ·                          Axis Bank
  ·                          State Bank of Travancore
  ·                          State Bank of Hyderabad
 ·                          State Bank of Mysore
 ·                          State Bank of Bikaner and Jaipur
 ·                          State Bank of Patiala
 ·                          Allahabad Bank
 ·                          Bank of Baroda
 ·                          Bank of India
 ·                          Bank of Maharashtra
 ·                          Canara Bank
 ·                          Central Bank of India
 ·                          Corporation Bank
 ·                          Dena Bank
 ·                          IDBI Bank
 ·                          Indian Overseas Bank
 ·                          Oriental Bank of Commerce
 ·                          Punjab National Bank
 ·                          Union Bank of India
 ·                          United Bank of India
 ·                          Andhra Bank
 ·                          Vijaya Bank
 ·                          Punjab and Sind Bank
 ·                          Uco Bank

11. Extension of Account beyond 15 years

The basic period of the account is 15 years however account holders can choose to extend the tenure. Tenures can be extended in 5-year blocks with or without making further investments.
·                          If no fresh investments are made after maturity, the account can continue earning interest on the amount accrued in the account until the end of year 15. Also, in this case, funds can be withdrawn freely once every financial year.

·                          If fresh investments are made after maturity – The interest will be calculated as per available balance in an account. However, in this case, withdrawals will be restricted to a maximum of 60% of the amount held in the account at the start of each 5-year period of extension.

 
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