UPDATE : NOV 22, 2016 : Finance Ministry today informed that 500 / 1000 rupee notes cannot be used for deposit in PPF Account.
It’s really a BAD Move, why can’t the government make informed decisions about all these inconvenience to the common public. BAD MOVE AND BAD PLANNING BY GOVT by not making points clear about the investment back in Bank in SAVINGS ACCOUNT OR SMALL SAVINGS ACCOUNT.
In one of the bold steps, Honourable Prime Minister of India, Shri. Narendra Modi has taken one of the bold steps in the History of Modern Democracy by curbing Black Money and also stopping counterfeit notes being circulated within the country by terrorist through demonetizing 500 INR and 1000 INR notes.
News came in and is circulating the country – Click Here – Exchange Old Notes
So, in order to save your hard earned money I suggest honest tax payers to save / deposit their hard earned money in cash flow form in PPF Account. There by saving their money and also ensuring perfect savings for the Tax Bracket under 80C.
Deposit the money in your PPF Account by displaying your PAN / AAdhar Card / Election Card and ensure your money is safe in PPF Account as its tax free on deposit / interest / withdrawal.
Don’t delay without any further time and deposit in PPF Account and ensure your savings limit of 1,50,000 INR is met within December 30th 2016.