Huf ppf
This query is : Resolved
10 March 2012
Hai
I have deposited Rs 100000/-each in my minor child in aacount of PPF. It can be claimed as deduction u/s 80c of I.T Act.
2. Whatabout intt on PPF of these accounts?
Kindly advise
Regards
Sanjay
I have deposited Rs 100000/-each in my minor child in aacount of PPF. It can be claimed as deduction u/s 80c of I.T Act.
2. Whatabout intt on PPF of these accounts?
Kindly advise
Regards
Sanjay
11 March 2012
1.Up to maximum limit of Rs. 1 lakh can be claimed under 80C.
2.Interest earned on deposits in PPF accounts is exempt from Income Tax.
2.Interest earned on deposits in PPF accounts is exempt from Income Tax.
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