deposit in PPF a/c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 December 2010
An assesee depositing in his minor PPF a/c regulary and availed deduction u/s 80C. During the previous year minor become the major. And minor filing his Income tax return during the p.y. During the previous year assessee deposit in PPF a/c of that minor a/c after minor become the major. whether that assessee can claim deduction u/s 80C on that deposited amount. whether there is any rule that an assessee can claim deduction u/s 80 C for PPF only for Minor a/c
21 December 2010
Such deposit qualifies for deduction in the hands of the assessee vide section 80C(4)(a)(i) of the Income tax Act,1961.
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