Hi,
Since last year no HUF can Open a new account of PPF and claim the benifit under section 80C.
I am having following doubts :
1) whether HUF can pay taxes on behalf of the members and whether is elligible to claim benifit of deduction under 80C
2) Also whether HUF can claim benifit for the payment of PPF for the minor daughter
Thank you
For both answers no…
Is their any particular section which states about this provision for exemption.
If HUF can claim the benifit of LIC than why cannot it can claim the same for the PPF.
Also why HUF cannot claim the benifit for the payment of PPF for Minor Daughter
Sorry for the Incovinience caused to you,
Thanks in advance
If HUF pays taxes on behalf of individual members than you will not get any deduction or well which you are talking about LIC..
If you take LIC on HUF’s name than you can get deduction but if you pay premium of lic to HUF’s member lic than it will not allowed…
If you sign on PPF A/c as guardian or pay PPF amount by your cheque than you can get deduction otherwise not…
can HUF invest in the Minor members PPF? Does it impact the PPF of father and mother? Can they both also invest in their individual PPF?
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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