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POSTED BY 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
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Please elaborate. I give two cheques one in my PPF name and another in my wife’s PPF name. But from my account.
Is there any reason why you are depositing money into your wife’s PPF account from your bank account.
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