Ppf a/c.
This query is : Resolved
29 June 2012
Dear Sir, I want to know that, it is possible to open more than one PPF A/c.
CA BHARATH KUMAR
(Expert)
06 July 2012
No,2 ppf account opened is illigal. but better you You can open another PPF account in the name of your wife and contribute to it too. But you will get tax benefit only in respect of contributions made to YOUR PPF account (u/s 80C of I T Act, 1961).
Interest earned and maturity amount of your wife's PPF will of course be tax free.
Interest earned and maturity amount of your wife's PPF will of course be tax free.
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