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Whether a person is entitled for interest on the deposits made in excess of the prescribed limit i.e. Rs.70,000/- in a PPF account ?

April 26, 2017account deposits entitled excess limit person PPF prescribed

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Whether a person is entitled for interest on the deposits made in excess of the prescribed limit i.e. Rs.70,000/- in a PPF account ?

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Ans : Accountholder is not entitled for interest on any amount deposited in excess of Rs.70,000/- in a financial year in the PPF account.