Ppf investment is tax exempted if is opened with dependents

• The annual ceiling on investment under the PPF scheme to be increased from `70000 to `1 lakh 
• intrest on loans from the PPF will be increased to 2% p.a. from the existing 1%
• intrest rates on PPF current rate-8.0% and proposed rate-8.6%
•  the interest you earn on it is tax-free. Since it is a scheme run by the Government of India, it is also totally safe. 

• Opening an account for a minor :-There have been certain practical hurdles in respect of opening of accounts for minor vis-à-vis some intermediary agencies. This clarification reiterates that as per the rules under PPF scheme, an individual may on his own behalf or on behalf of a minor of whom he is a guardian, open a PPF account. Further, either father or mother can open PPF account on behalf of his / her minor child, but both cannot open the account for same child.

  Let’s say you open an account for your minor child. You can deposit Rs 70,000 in your account and Rs 70,000 in your child’s account. In this case you can in my opinion take the maximum benefit of Rs. 1,00,000/- U/s. 80C.  As Limit of Maximum Investment in a year of 70000/- is fixed by Public provident Fund Act not by income tax  law. 

• Taxation of PPF

  a.            Benefit u/s 80C – The Investments made in PPF Account are eligible for deduction u/s 80C

  b.            Tax Free Interest – No Tax is payable on the Interest Earned on PPF Account.

yes, you can claim exemption U/S 80C as per income tax Act.

(you can invest self or for spuose or for childrens)