Minors Having Pan Card and Income source – Can they deposit in PPF ?

POSTED BY ManuBharadwaj ON August 27, 2014 1:11 pm NO COMMENTS

I am a parent of two minors. The minors earn some money by means of dancing performances that they give along with their Mother, and also have gifts given by their grand parents year on year.

Now, if they file Tax returns and have their own PAN card and have traceable income , would they be eligible to Open PPF accounts, with me being their guardian. And if yes, can all the three accounts max out their limits of 1.5 lakhs year on year. Albeit i will claim only 1.5 lakh exemption.

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