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PPF Exemption

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(Querist)
17 February 2010 I want to open a PPF account in my daughter's name who is a minor.Can I claim tax exemption under 80C for the same?
Can I open another PPF account in my name and wife name?
Can I claim 80C benefit for contribution to all the three accounts viz... [PPF in my name , daughter name and spouse name]
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CA Chitresh Gupta

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CA Chitresh Gupta (Expert)
17 February 2010 Yes
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renga

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renga (Querist)
17 February 2010 Can I claim exemption for all three contributions
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CA Chitresh Gupta

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CA Chitresh Gupta (Expert)
17 February 2010 Yes, but maximum deduction allowed u/s 80C is Rs 100000/-
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renga

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renga (Querist)
17 February 2010 But PPF contribution is limited to Rs 70000 maximum per annum?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
17 February 2010 whereas the maximum contribution a person can make is 70,000 deduction allowable u/s 80C Rs. 100,000
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
17 February 2010 Agree, maximum contribution is Rs.70000/- for PPF , Rs.100000/- FOR 80C
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
18 February 2010 Agreed Rs.70000/ of PPF claimed and Rs.1 Lakh for 80C
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