PPF A/C contribution and exemption

Dear.....

1) As per U/s 64(1A) ,Interest on PPF investment ( Minor A/c ) will be included in the income of his / her father , mother or parents. Such income is  expemt u/s 10 in the hand of father , mother or parents.

2) 80C : Max. limit for PPF is Rs 70000/-. Investment of Minor under PPF a/c( if paid by assessee) can be considered up to Rs 70000 only. But  here He has allready invested Rs 70000/- under PPF A/C .

Ok........................ Please ref  Note No 4 & 6 , Page No 631 para No 235.2 of Direct Tax of Dr Vinod Singhania

Thanks. But still not clear 

Will it be any  issue if  70000 is invested in self   PPF and 70000 invested in minor PPF , just leave apart issue of exemption limit for 80 c .  I mean total 140000 invested in PPF (self+minor) but only 70000 will be allowed as exemption.

Viki

Yes you can deposit as much amount as you want.. no probelm in tht. There is restriction only for deduciton for 80C.

Also if you are salaried person than can contribut to VPF. For such you can claim deduction upto 1 LAc.....