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Huf contribution to minor ppf account

Others 725 views 3 replies

Dear All,

I understand that HUF can claim tax benefit under section 80C for any contribution made by a member to his/her PPF account.

I have following questions in this regard:

1) Does this mean HUF needs to make this deposit to PPF account via its bank (HUF) account?

2) What would happen in case of a MINOR member?

3) If FATHER and MOTHER both have PPF account and are fully contributing to their respective accounts, can the HUF contribute to the MINOrS PPF account?

Kindly reply with reference (if possible)

Warm Regards

Kashmira S

 

Replies (3)
Yes HUF can contribution to any HUF member including Minor member.
good clarification and information

Thanks for the answer. But can you please elaborate on the same.

If an HUF contributes to the PPF account of one of the Minor member. Does the contribution (by HUF) get added to the parent's PPF contribution, considering his/her PAN number is present in the Minor's PPF account as guardian?
 


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