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PPF Act need to be amended to increase Investment Limit to Rs. 100000/-
Case Law Details
- Case Name
- M. S. Padmarajaiah Vs Secretary, Department of Finance, Govt of Karnataka (Karnataka High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Karnataka High Court
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Keeping in view that the Income-tax Act, 1961 was amended by the Finance Act, 2005 permitting an individual to deposit to the maximum of Rs. 1,00,000/- in any of the specified schemes, the concerned authorities should take steps to amend clause 3 of the PPF Scheme in terms of section 80C of the Income-tax Act.
Decided By: HIGH COURT OF KARNATAKA , In The Case of : M. S. Padmarajaiah v. Secretary, Department of Finance, Govt of Karnataka, Case No.: W. P. No. 297 of 2006 (GM), Dated : September 1, 2008
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