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PPF contribution by father .
Amount received from his son as a gift and deposit in PPF account and Nomination in favour of his son ( amount received from son) . It is possible , please advise .
Replies (4)
Quick Summary
It is okay
Interest and amount received from PPF is exempted income or not
If per year contribution is more than 2.5 lacs, then interest on such PPF is taxable under normal slab rates. And maturity proceeds are not taxable
Max contribution allowed is only 150000/-
Interest is tax free
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