PPF Act need to be amended to increase Investment Limit to Rs. 100000/-

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.:Please become a Premium member. If you are already a Premium member, login here to access the full content.