Ppf investment

Tax planning 727 views 2 replies

WHether 80C deduction is available for Investment in PPF to a Non Resident foreign Citizen?

Pls reply urgent

Thanks

 

Replies (2)

Yes, since under section - 80C , eligible assessee are only individual and HUF. 

Here the word is only individual that means both resident and non resident covered.

Dear Prakash, an NRI is not eligible for investing in PPF in India.  Hence he cannot make any investments.  If he was an Resident at the time of opening the PPF A/c & subsequantly he becomes an NRI, then he cannot renew the PPF account at teh expiry after he becomes an NRI.


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