16 January 2017
Gud morning
We all know that .....HUF cannot invest in its name in ppf but the same HUF can make nvestment in its membera ppf account and avail the benefit of 80C.........
My query is if member is also taking benefit of 80c in full from some other means( apart from ppf) of 80c investment... then is it possible for huf to invest in ppf account of that member and avail the benefit of 80c....
Please help
16 January 2017
It is lawful to claim deduction u/s. 80C for the amount deposited by HUF in its member's PPF account up to a ceiling of Rs. 1,50,000.00. It does not matter the same member is also claiming deduction of 1,50,000.00 against other eligible deposits or investments or payments u/s. 80C
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