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PPF by HUF


Aashutosh Agrawal (JOB)     15 March 2011

Aashutosh Agrawal
JOB 
 66 points

| My Other Post

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 

avater

Pankaj Arora (Learner)     15 March 2011

Pankaj Arora
Learner 
 225 likes  3124 points

View Profile | My Other Post

 

For both answers no…

avater

Aashutosh Agrawal (JOB)     15 March 2011

Aashutosh Agrawal
JOB 
 66 points

View Profile | My Other Post

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

avater

Pankaj Arora (Learner)     15 March 2011

Pankaj Arora
Learner 
 225 likes  3124 points

View Profile | My Other Post

 

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…

avater

Kash F   09 August 2019

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?


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