PPF Contribution for Child account, is it valid for 80C ?

POSTED BY agarwal ON February 24, 2014 1:18 pm COMMENTS (2)

Sir

If my contribution to PPF a/c is 50k and another 50K is towards lic/school fees etc for 80c benefits. However 50k has been invested in my childs ppf account is the same valid.

2 replies on this article “PPF Contribution for Child account, is it valid for 80C ?”

  1. ashalanshu says:

    Dear agarwal, you can invest that 50K in your kid’s PPF account as it’s within 1L R.s limit but your section 80C limit is nalready over hence no tax benefit under section 80C for kid’s PPF account.

    Thanks

    Ashal

  2. Raja says:

    Total of 1L is exempted under 80C which includes PPF (parent + child). PPF investment in parent + child account cannot exceed 1L in total. Hope that answers. Refer to Manish’s article on PPF for minors on the main page.

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