20 April 2009
I am having a PPF a/c of my HUF operational from last 10 years. The first block of 15 years is not complete and will be complete in 2014. 1. Can I continue to subscribe Rs. 70000/- per year 2. Will I earn interest in this A/c for the previous amount and for amounts invested upto 2014 ? 3. Can I claim exemption under section 80-C from Income Tax for HUF. Please advise. Thanks and Regards Rajesh
20 April 2009
Rajesh, U can of course subscribe 70000/- p.a. you will earn interest on the amounts deposited from the date of deposit & will continue later too, but at prevailing rates. U can claim deduction u/s 80C for max 70000/-
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