18 April 2015
ppf account opened by child before 2 years and now child is not investing in ppf account but mother wants to invest in ppf to claim 80c deduction.please suggest mother can claim 80c deduction in investing ppf account opened by child, if child is not claiming the same.
18 April 2015
A minor child is not eligible to open a PPF A/c. . However from the mother's perception, a child is always a child whether major or minor. For which child you are asking? . In my view, if the Account Holder Child is a major child and mother deposits the money in his PPF A/c, as per Section 80C(4)(a) being the actual depositor, mother may get benefit. .
CAclubindia
