Queries

Chandan Das I have an ongoing Public Provident Fund (PPF) account that is due for maturity in a few years. Can I extend the tenure of the same PPF, or do I need to open a new one? You can extend the tenure of your PPF on maturity by a block of five years, with or without making any new contributions. To continue your PPF account with new contributions, you need to intimate the post office or the bank in which you have the account by submitting Form H. This won’t be necessary if you do not wish to make any new contributions. In that case, the balance will continue to earn interest at the prescribed government rates. Suhel Chander, CFPCM, Handholding Financials Hardeep Solanki I am a senior citizen. I want to give a token sum to my grandson for his higher education when he turns 18 in two years. I want to give the money to him now, but I am afraid it could end up getting used for...