DEDUCTION OF PPF DEPOSIT U/S 80 C

This query is : Resolved

CA. BIJENDER KR. BANSAL (Querist)
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19 March 2008 Dear All,

An Assessee has opened a PPF account in name of his daugher ( age 18 years). Whether he can claim deduction of PPF Deposit in name of daughter.
Please tell me asap.

Thanks & Regards

CA. B.K.BANSAL

CA Hemant T Dewani

CA Hemant T Dewani (Expert)
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19 March 2008 you will take deduction u/s 80C you are
invested in your daughters account but
maximum investment in ppf is Rs 70000/-
allowed and withdrawal is from your a/c is
important

CA Praveen Chopra

CA Praveen Chopra (Expert)
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19 March 2008 Either you or your daughter can claim 80C.

K V Subba Rao

K V Subba Rao (Expert)
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19 March 2008 Please visit https://www.caclubindia.com/articles/article_list_detail.asp?article_id=521. I understand deposits into PPF account of major children cannot be claimed for Deduction u/s 80-C