17 comments

  • Deepak

    Tpdays notification changes everything…

     

    No more PPF for NRIs. Your account will stop earning interest the day you become NRI and will have to be closed…

  • Devendraraj D Shenai

    Thanks for above clarifications. My wife opened the ppf account before bacoming NRE. We continued depositing money in the account. However some of my friends advised me that if PPF authorities detect her NRE status, they would deduct all the interest amount gained and would return only the Capital. Kindly clarify. Also please confirm again if the interest is still  8.7% .

    Thanks

  • Rajindra Prashad Aggarwal

    Is interest accrued on PPF account is tax free in USA

  • Rajindra Prashad Aggarwal

    In case of nri ppf account before going abroad it is clear that he can cotinue with the account and he can deposit in the PPF account for 15 years .
    My question is that the interest accrued in PPF account , IS NRI LIABLE TO TO PAY TAX ON THE INTEREST ACCRUED IN USA ( THOUGH PPF INTEREST ACCRUED IS EXEMPTED FROM INCOME TAX IN INDIA )

  • Sarina Paranjape

    I have recently moved to the US. My PPF account which I had opened as a resident matured on March 31. I understand I cannot extend for a block of 5 years with subscription. You mention that if the maturity amount is not claimed, the account get extended automatically for a block of 5 years. But you also say that there is a question mark about what happens to the money. What should NRIs do in such a case? Is it risky to leave the money in an account without contribution? Does it get interest? Does one have to wait for the block of 5 years to be over before claiming the maturity proceeds?

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