POSTED BY October 29, 2012 12:41 pm COMMENTS (3)ON
My wife is housewife & she has no financial investment.Can she open PPF account in banks or post office to get the benefits under 80C.Can she get money from me to investment for same purposes.Can she also gets benefited the other instruments in same clause as 80C.
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3 replies on this article “Tax Deduction for housewives in PPF”
Dear Anuj, your wife can open PPF account. You may deposit your own money into her PPF but as she is not having any taxable income, the question of availing tax benefit does not arise for her.
Yes you may claim the tax benefit for her PPF within the over alll limit of 1L Rs. for section 80C. if you are already exhausting your own 1L Rs. limit in your investments (PF, PPF, Insurance prem…….) this wife PPF thing ‘ll not save you any extra tax.
I checked the link but i want to know an un-employed person as my wife (housewife) can get the benefits of 80C for her PPF account or she would be treated as bias from 80c exemption while using her PPF account & have to pay the tax.
Perhaps you would get my question & concern queries.
Check the answer int he below query: