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Ppf account in name of minor

This query is : Resolved 
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(Querist)
27 November 2012 Hi,

I have PPF account for myself and i am depositing 1 Lakh in that account every year.
My question is, can i open another PPF account for my son which is minor and can i deposit amount say 30 thousand yearly in it ?
i understand that tax can be saved up to only 1 Lakh as per 80C but can i open PPF account for minor just for investment purpose ?

Regards
yogi
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
28 November 2012 Yes PPF account can be opened in the name of a minor along with a guardian.
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Prakash Kochar

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Prakash Kochar (Expert)
29 November 2012 Total investment of guardian father and minor exceeding Rs. 100000/-P.A.not allowed.
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