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PPF contribution by father .

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PROPRIETOR
552 Points Posted on 22 March 2021
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 .
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On 22 March 2021 at 14:02 Report
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17264 Points Posted on 22 March 2021
It is okay
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On 22 March 2021 at 16:49
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PROPRIETOR
552 Points Posted on 22 March 2021
Interest and amount received from PPF is exempted income or not
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On 22 March 2021 at 17:02
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student
334 Points Posted on 22 March 2021
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
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On 22 March 2021 at 17:06
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17264 Points Posted on 22 March 2021

Max contribution allowed is only 150000/-

Interest is tax free

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On 22 March 2021 at 17:11


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