What to do to invest in PPF for my minor kids name ?

POSTED BY Finance Student ON July 7, 2014 7:11 pm COMMENTS (3)

I and my wife both have PPF account and we both are working. We save from our salary and put it in my SBI account and then I give two cheques in my name while depositing in PPF. So are we individually allowed for 80c for that 1+1L i.e. 2L in PPF account.  We have minor kid  what to do to create PPF in kid’s name….that is exceeds 2L

3 replies on this article “What to do to invest in PPF for my minor kids name ?”

  1. Finance Student says:

    Please elaborate. I give two cheques one in my PPF name and another in my wife’s PPF name. But from my account.

    1. Hemanth Chandra says:

      Is there any reason why you are depositing money into your wife’s PPF account from your bank account.

  2. Hemanth Chandra says:

    You both are eligible for 1L + 1L individually…. Though you invest in your child’s name, the total exemption will be 2L including your all 3 PPF accounts.

    Better deposit 2L from your own accounts into PPF account instead only from your account

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Your email address will not be published.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.