Amount standing in PPF account immune from attachment- to achieve the purpose, amount en-cashed or transferred in other account must also have such immunity.

Amount standing in PPF account immune from attachment- to achieve the purpose, amount en-cashed or transferred in other account must also have such immunity. https://www.taxtmi.com/article/detailed?id=5498 Amounts invested in a Public Provident Fund enjoy immunity from attachment while invested, but the court left unresolved whether that immunity survives withdrawal or transfer. The article argues immunity should continue to apply to amounts withdrawn or encashed and held in cash or deposited in bank accounts so as to preserve the social security purpose of long term savings and prevent defeat of that objective by attachment after liquidation. en-us Tue, 25 Feb 2014 08:30:53 +0530 Tue, 25 Feb 2014 08:30:53 +0530 TaxTMI RSS Generator Amount standing in PPF account immune from attachment- to achieve the purpose, amount en-cashed or transferred in other account must also have such immunity. https://www.taxtmi.com/article/detailed?id=5498 Amounts invested in a Public Provident Fund enjoy immunity from attachment while invested, but the court left unresolved whether that immunity survives withdrawal or transfer. The article argues immunity should continue to apply to amounts withdrawn or encashed and held in cash or deposited in bank accounts so as to preserve the social security purpose of long term savings and prevent defeat of that objective by attachment after liquidation. Articles Income Tax Tue, 25 Feb 2014 08:30:53 +0530 https://www.taxtmi.com/article/detailed?id=5498