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Q.

I have a PPF account effective 2000 - in between the years I did not make any deposit into my account as I was abroad can someone help me with the basis of calculating the penal interest on account of non deposit of money into my account,thanks in advance......

regards,Krish

Asked by M Krishnan, 01 Jan '09 05:08 pm
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Answers (3)

1.

Thanks Vidhi
Answered by RSehgal, 01 Jan '09 05:29 pm

 
  
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2.

If the rate of penalty is say 50/- per year per instalment, then for each FY say 2001-02 u hv to pay 7 x penalty + for 2002-03 6 penalties +2003-04 5 penalties+ 2004-05 4 penalties + 2005-06 3, 2006-07 2, 2007-08 1x50, 2008-09 is current FY so no penalty, and a sum of RS 500/- minimum per FY as instalment
Answered by vidhi, 01 Jan '09 05:19 pm

 
  
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