During Corona Pandemic, government gave extension and relaxation in account opening rules for many small savings schemes including Public Provident Fund or PPF and Sukanya Samriddhi Yojana. These will now end on July 31. It was allowed to PPF subscribers to make deposits till 31st July in their accounts for FY 2019-20 with a maximum deposit ceiling of ₹1.5 lakh.
Time limit was also extended by Income Tax department upto 31st July for making various investments for claiming deductions under the I-T Act, which includes Section 80C (PPF, NSC etc), 80D (mediclaim), 80G (donations) etc, for 2019-20.
The Postal department said that the subscribers of PPF accounts who are required to submit the extension form is due in lockdown with one-year grace period after maturity – may submit the prescribed form for extension through registered email id by 31st July. Also, they can submit the original copy of PPF extension form to the concerned operating agency once the lock down is completely lifted..
Similarly, Government announced the relaxations in the eligibility norms for opening of Sukanya Samriddhi Yojana accounts due to the COVID 19 lockdown.
Sukanya Samriddhi account is an investment account which can be in the name of girl child on or before 31st July, 2020, who have attained the age of 10 years during the period of lockdown from 25th March, 2020, to 30th June, 2020.
This relaxation was to help the guardians of girls who had not open Sukanya Samriddhi accounts due to the lockdown. Otherwise, it can be opened only after the date of birth.