PPF E-Receipt: Reference Number Name of Account Holder PPF Account ... - Free Printable

Problem Description:

The image provided is a screenshot of an SBI PPF e-Receipt. The task appears to be related to analyzing the receipt and understanding its details. Since no specific question was mentioned, I will assume the task is to interpret the information on the receipt and explain its significance.

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Solution and Explanation:

#### 1. Understanding the Receipt
The receipt is for a Public Provident Fund (PPF) account, which is a long-term savings instrument in India. It provides tax benefits under Section 80C of the Income Tax Act and also allows tax-free withdrawals after the maturity period.

#### 2. Key Details on the Receipt
Let us break down the important information present on the receipt:

- Reference Number: `66737442`
- This is a unique identifier for the transaction. It can be used for tracking or referencing the transaction with the bank.

- Name of Account Holder: `Mr. SANDEEP SRIVASTAVA`
- This is the name of the individual who owns the PPF account.

- PPF Account Number: `30637544900`
- This is the unique account number assigned to the PPF account by SBI. It is essential for identifying the account during transactions.

- Transaction Date: `02 MAY 2020`
- The date when the transaction was processed. In this case, it is May 2, 2020.

- Remarks: `BY TRANSFER`
- Indicates the mode of the transaction. Here, the amount was transferred electronically, likely from another bank account or digital payment method.

- Amount (in INR): `10,000.00`
- The amount deposited into the PPF account. The currency is Indian Rupees (INR).

- Amount in Words: `Ten Thousand Rupees Only`
- The numerical amount (`10,000.00`) is written in words for clarity and verification purposes.

- System-Generated Receipt:
- The receipt mentions that it is system-generated, so no signature is required. This ensures authenticity and reduces the risk of forgery.

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#### 3. Significance of the Information
- Tax Benefits: Deposits up to ₹1,50,000 per financial year qualify for tax deductions under Section 80C of the Income Tax Act.
- Long-Term Investment: PPF accounts are designed for long-term savings, with a minimum tenure of 15 years. Early withdrawals are restricted, ensuring disciplined saving habits.
- Interest Rate: The interest rate for PPF accounts is typically announced by the government and is compounded annually. The interest earned is tax-free.
- Electronic Transaction: The use of electronic transfer (`BY TRANSFER`) indicates a modern and convenient method of depositing funds, reducing the need for physical visits to the bank.

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#### 4. Potential Uses of the Receipt
- Record Keeping: The receipt serves as proof of the transaction and can be used for record-keeping purposes.
- Tax Deduction Claims: If the deposit qualifies under Section 80C, the receipt can be used while filing income tax returns to claim deductions.
- Verification: In case of any disputes or queries regarding the transaction, the receipt can be presented to the bank for verification.

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Final Answer:

The receipt is a valid record of a PPF account deposit made by Mr. Sanjeev Srivastava on May 2, 2020, in the amount of ₹10,000.00 via electronic transfer. It serves as proof of the transaction and can be used for tax-related claims and record-keeping purposes.

Boxed Final Answer:
\[
\boxed{\text{The receipt confirms a PPF deposit of ₹10,000.00 on May 2, 2020, by Mr. Sanjeev Srivastava.}}
\]