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Investment in ppf

Vikas (BM) (24 Points)

13 February 2016

PPF act limits investment @ INR 150000 per FY. Is it per person or per account? Can I invest INR 150000 each in 2 PPF accounts? One of these is my own and other of my minor son. Please substantiate with legal provision and/or court decision?

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Deepak Gupta (CA Student) (15922 Points)
Replied 14 February 2016

The limit of PPF deposit in a year by an individual in his self account and accounts opened by him on behalf of his minor(s) of whom he is the guardian is combined under rule 3(1) of the Scheme.

- MOF (DEA) Notification No GSR 908 (E) dated 6.12.2000

- For more such clarifications - click here

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