Deduction of PPF

Save Share

This query is : Resolved

Quick Summary

You can indeed claim a deduction under Section 80C for contributions made to your major son's Public Provident Fund (PPF) account. The law specifies 'any child' and does not distinguish based on age. Therefore, as the depositor, you remain eligible for the tax deduction regardless of your son's majority status.

sanjay

sanjay (Querist)
Follow

12 February 2020 Sir
Pl advise. Can I deposit and deduction of PPF in my major son account.
Regards

Ca Neha Jain

Ca Neha Jain (Expert)
Follow

13 February 2020 No. You won't be receiving deduction of this contribution because your son is major.

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

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.

swasti

swasti (Expert)
Follow

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.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now