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

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