Ppf deduction u/s 80c
This query is : Resolved
11 February 2017
Dear Sir,
My one client has opened PPF A/c in his individual name. And PPF payment was made from HUF Bank Account and also taking benefit in HUF Account under 80C because now PPF account is not allowed to open in HUF Name. So Upto now Payment from HUF Bank Account for PPF and benefit under 80C deduction is also taken in HUF. But Now I want to take benefit in Individual instead of HUF. Shall I switch over from HUF to Individual. is there any lock in period for that?
Please inform
My one client has opened PPF A/c in his individual name. And PPF payment was made from HUF Bank Account and also taking benefit in HUF Account under 80C because now PPF account is not allowed to open in HUF Name. So Upto now Payment from HUF Bank Account for PPF and benefit under 80C deduction is also taken in HUF. But Now I want to take benefit in Individual instead of HUF. Shall I switch over from HUF to Individual. is there any lock in period for that?
Please inform
11 February 2017
Yes you can switch over and make payment from individual account instead of HUF account.
11 February 2017
You just need to make paymemt from Individual account instead of from HUF account to claim deduction of PPF. No lock in period for this.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Regarding TDS Applicability For Director Remuneration
- SFT Cash Deposit in Current Account
- Annual return in Gst
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
