Hello Sir / Madam,
Can an HUF claim deduction u/s 80C for contribution made to PPF account of any of its member?
i came across one article on ET where Senior Chartered Accountant, has answered this
"Deduction u/s 80C of the I-T Act is eligible to individuals and HUFs. However, PPF account in the name of HUF is no more permitted as clarified by ministry of finance vide notification no GSR 291(E) dated May 13, 2005. In order to claim deduction u/s 80C, HUF can contribute to the PPF account of its members and claim tax deduction."
So can we claim PPF contribution under 80C in HUF ITR ?
and if not then can HUF contribute of members PPF even if doesnt want to claim under 80C?
and if the Member is Minor then the answer remains the same?
Thanks in Advance for your reply.
https://economictimes.indiatimes.com/wealth/tax/tax-queries-can-an-huf-claim-deduction-u/s-80c-for-contribution-made-to-ppf-of-its-member/articleshow/65498372.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
https://economictimes.indiatimes.com/wealth/tax/tax-queries-can-an-huf-claim-deduction-u/s-80c-for-contribution-made-to-ppf-of-its-member/articleshow/65498372.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
https://economictimes.indiatimes.com/wealth/tax/tax-queries-can-an-huf-claim-deduction-u/s-80c-for-contribution-made-to-ppf-of-its-member/articleshow/65498372.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
https://economictimes.indiatimes.com/wealth/tax/tax-queries-can-an-huf-claim-deduction-u/s-80c-for-contribution-made-to-ppf-of-its-member/articleshow/65498372.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
https://economictimes.indiatimes.com/wealth/tax/tax-queries-can-an-huf-claim-deduction-u/s-80c-for-contribution-made-to-ppf-of-its-member/articleshow/65498372.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
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