1. Dear Mr. Suresh, I have 2 queries here.
    My spouse is not working but she has PPF account. Even my 2 kids have ppf a/c.
    I pay for all the 4 accounts.
    can I get tax benefit on all the payments done by me if it is below 1.5 L p.a.

    Secondly I m bit confused on retirement plan. Is it better to go with PPF with low interest or invest in MF through SIP for high returns.


    1. Ashok, You cannot get benefit for the PPF accounts which are holded by you and your kids. If you are low risk taker, invest in PPF, if you can take some risk, invest in mutual funds

  2. Hi Suresh,

    Thanks for the information. Can you please let us know about the provision on transfer of account from one bank to another bank?
    I have an account in SBH in my daughter name, whereas I want to transfer that account to IDBI / SBI bank. Can you please let me know of specific guidelines indicating such transfers?

  3. Sureshji

    I think it is possible to close PPF a/c before 15 years for medical and/or educational expenses. However, in such cases the interest rate decreases by 1%.

  4. Hi Suresh, Currently, I am only investing in PPF, an amount that is just required to fully subscribe to the IT exemption limits. But, I have more bandwidth also. Just because I am not going to get tax benefit, I do not invest fully (1.5L) in PPF. That money is lying in the SB a/c.

    Advise if I can change my strategy and invest in PPF upto 1.5L (irrespective of the IT limit)

  5. Hi Suresh,
    One withdrawal is allowed per financial year – which means can we withdraw each year after the completion of 7th year? Please advise.

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