Enquiry about PPF

POSTED BY Mitra_kol ON October 19, 2011 5:44 pm COMMENTS (2)

I am operating a PPF account.

Can I open a separate PPF account for my baby (or
may be under my wife’s name who is self employed and does not fall under tax slab)?

Will I be able to deposit Rs. 70k in each account side by side?

Thanks,

2 replies on this article “Enquiry about PPF”

  1. Mitra_kol says:

    Thanks Ashal,

    Yes, Tax benefit is only applicable for me and for that I am maintaining a PPF. Just want to open another one in order to meet up higher education and other expenses for my child.

  2. ashal jauhari says:

    Dear Mitra_kol, You may open another PPF account for your minor child & for your wife & invest 70K in each account but please do note Tax benefit under section 80C ‘ll remain available within the over all ceiling of 70K Rs.

    Thanks

    Ashal

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Join 1,60,000 email subscribers

FREE Video Lessons directly in your email daily

144 page PDF ebook with best articles from Jagoinvestor

Get future articles directly on your mailbox + updates


6 PART VIDEO COURSE

FREE 

 

 

You are subscribed for FREE Course now, Check your Email

CONGRATULATIONS

Join 1,60,000 email subscribers

FREE Video Lessons directly in your email daily

144 page PDF ebook with best articles from Jagoinvestor

Get future articles directly on your mailbox + updates


6 PART VIDEO COURSE

FREE 

 

 

You are subscribed for FREE Course now, Check your Email

CONGRATULATIONS