Saving in ppf

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Deepak suri (Querist)
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19 August 2013 IN MY FAMILY I HAVE 3 PPF ACCNTS ,ONE IS MINE,ONE OF MY MINOR DAUGHTER AND ONE OF MY MINOR SON .bOTH CHILDREN ACCOUNT I AM SUBSCRIBING. hOW MUCH CAN I SAVE IN TOTAL OF THREE acC AND HOW MUCH IS ELIGIBLE FOR TAX SAVING.

CA Rinkal

CA Rinkal (Expert)
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19 August 2013 maximum 70000 per person per account

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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19 August 2013 As per sec 80C you can get tax benefit of 1,00,000 only.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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19 August 2013 Now the income tax act is ammended and rs 1,00,000 is allowed against earlier 70,000.

CA Kumar Mukesh

CA Kumar Mukesh (Expert)
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19 August 2013 Investment in PPF is eligible to get deduction from Income Tax u/s 80C, if amt deposited during the financial year in the name of Self Spouce or children with lock period of 5 Years

Further whole amt. of Interest credit in PPF a/c is exempt in the hand of Assessee u/s 10(11)

Regards,

Deepak suri

Deepak suri (Querist)
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19 August 2013 HOW MUCH I CAN SAVE IN ALLTHREE ACCOUNTS--- 3 LAKH OR ONLY 1 LAKH.PL CLARIFY

CA Kumar Mukesh

CA Kumar Mukesh (Expert)
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19 August 2013 upto rs.1 lac

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