I have a running PPF account 19 yrs old.I want to withdraw 1 Lac each year and deposit 1 Lac each year in the same PPF. Can I do it? I want to continue my PPF account with withdrawal and deposit to it.
I do not have spare money for running it. Kindly guide.
Refer my blog post on the same at “PPF withdrawal rules & options after 15 years maturity“.
But Sir your blog do not have the answer to this question.
I simply asking, whether I can continue the account with every year withdrawal and deposit to the same PPF account? I want to continue the account.
It is Rs.1 lakh a year or Rs.2 lakh a year, but the total withdrawal allowed during this extension period with contribution to PPF is maximum of 60%. Let us say you have Rs.10 lakh balance at the end of the 15th year or at the time of beginning of extension period, then you can withdraw this Rs.6 lakh at any time during the period of 5 years (either monthly or yearly or a single lump sum). This is what I cleared.
Once you withdraw the amount from PPF, then it is your wish to re-invest the same in PPF or use as per your wish.
Thanks. If I need some specific advice, I will write again.