Question

    In the PPF (Public Provident Fund) Scheme the amount

    gets locked in for a period of 15 years but if one has to withdraw it before the maturity then the money can be withdrawn only after how many years?
    A 3 years Correct Answer Incorrect Answer
    B 4 years Correct Answer Incorrect Answer
    C 6 years Correct Answer Incorrect Answer
    D 7 years Correct Answer Incorrect Answer
    E 1 year Correct Answer Incorrect Answer

    Solution

    In the PPF scheme partial withdrawals from year 7 i.e. on completing 6 years is permitted. It is a scheme for a long term investment that offers an attractive rate of interest and returns on the amount invested. It is not taxable. One has to open a PPF account under this scheme and the amount deposited during a year will be claimed under section 80C deductions.

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