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INVESTMENT IN PPF

Tax planning 1994 views 7 replies

hi,

HUF CAN INVEST IN PPF AND CLAIM ITS INCOME AS TAX FREE INCOME....

Replies (7)

What is new in this?

Yes, HUF can, what is the question?

can anyone tell me that ITR2 Forms which u have to download from website or you can collect it from it office?

HELLO...FRND..

PPF IS ALREADY DEDUCT UNDER SECTION VI-A. OF INCOME TAX ACT.

UNDER 80-C...

 

No, HUF Cannot Invest in PPF. This is the only area in which HUF cannot invest

I disagree with Roank's View,


According to Income Tax Act, to get the benefit of deduction U/s. 80 C, amount deposited by an individual in his own PPF account or in the account of hi/her spouse  (in case of HUF in the account of any member of the family) is eligible for deduction.


Please refer to Taxmann ready reckoner 31st edition page A-208, note 4

my question is tht only tht can huf invest in ppf???

as much i know huf enjoys eyerything tht individual does but except ppf.........


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