I have created a HUF firm and i have openend a PPF accounts with the name of their co partner. Now can i get the deduction u/s 80-C in HUF Return and in their co partner return.
What will be better for me for opening PPF account "SBI" or POst office
31 December 2009
Public Provident Funds Indian Postoffice Savings
Who can open a Public Provident Funds account: An individual : in his own name, on behalf of a minor of whom he is a guardian, a Hindu Undivided Family. Where to open a PPF account at designated post offices throughout the country and at designated branches of Public Sector Banks throughout the country. Maturity period The account matures for closure after 15 years. Account can be continued with or without subscriptions after maturity for block periods of five years. Nomination Nomination facility is available under Public Provident Funds accounts.
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Deposit limits Minimum deposit required is Rs. 500 in a financial year. Maximum deposit limit is Rs. 70,000 in a financial year. Maximum number of deposits is twelve in a financial year.
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