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Vivek Lala |305 Answers |Ask -Follow

Tax, MF Expert - Answered on Apr 17, 2023

Vivek Lala has been working as a tax planner since 2018. His expertise lies in making personalised tax budgets and tax forecasts for individuals. As a tax advisor, he takes pride in simplifying tax complications for his clients using simple, easy-to-understand language.
Lala cleared his chartered accountancy exam in 2018 and completed his articleship with Chaturvedi and Shah. ... more

Question by Anand on Apr 17, 2023Hindi

Money

Hello - My question is similar to the one by Octavio. I am 62 years old and my PPF will be completing the extended 5 year block in March 2024. Can I continue the account without subscription and withdraw the interest deposited in my account every year and keep the principle in tact?

Ans: I would rather suggest something a little more liquid like a BAF fund of agressive hybrid fund where you can start with an swp of 5-6% every year in monthly mode as that will give you some exposure to equity markets and appreciation of capital after inflation effect.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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Can I keep my PPF account active till lifetime to enjoy higher interests by investing small amounts and keeping the account active by extending it for five years every time post the initial 15 years initial period? Also, can I withdraw the interest accumulated yearly from my PPF account?

Ans: Yes, you can extend your PPF for a lifetime in a block of five years every time.

If you are continuing to make contributions after the extension of your PPF account beyond the first 15 years, you can withdraw upto a maximum of 60 per cent of the accumulated amount at the end of the previous renewal period.

Withdrawals are restricted to one per year.

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Money

My PPF account is maturing in 2025... 20yrs.... Current amt apx 40lacs.... Can I use it as a pension tool to withdraw only the interest amt once a year and extend the same for NXT 5yrs... My age is 48 yrs now

Ans: The lock in period for PPF is 15years now so you can withdraw it before 20 years as well. You can withdraw a sum equal to the sum given by banks on their investments for day to day expenses if you have retired. If you have not retired and have an active income then keep the investments for them to grow as you technically don't need the money. You can do diversification of this investment and keep it invested in a couple of assets like PPF , equity mutual funds , debt mutual funds , etc.

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I am having PPF which is getting maturity in Apr 2025. What are yearly withdraw rules if I extend for another 5 years with minimum investment?

Ans: If you opt to extend your PPF account for another 5 year term after end of first 15-year term, you can only withdraw 60% of the balance accumulated at the time of extension over the new 5 year period.

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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