Deduction of PPF
This query is : Resolved
Quick Summary
12 February 2020
Sir
Pl advise. Can I deposit and deduction of PPF in my major son account.
Regards
Pl advise. Can I deposit and deduction of PPF in my major son account.
Regards
Ca Neha Jain
(Expert)
13 February 2020
No. You won't be receiving deduction of this contribution because your son is major.
Amol S Joglekar
(Expert)
13 February 2020
The words used in the Act [section 80C(4) ] is "Any child of such individual" The Act is silent on the issue of majority or minority of child.
14 February 2020
Correctly stated by Amol Sir. Deduction would be available even if deposited in PPF account of major son also. The depositor would be eligible for deduction.
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