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Question regarding ppf deposit without tax aspect

Others 473 views 1 replies

This question is regarding PPF deposit WITHOUT taking tax aspect in mind :

Case 1 :

A : Husband opened account of ---------------------> B : Minor Kid
C : Wife

1) Husband A will put 100000 in Minor Kid B' account
2) Husband A will put 100000 in Wife C's account
3) Wife C will put 100000 in Husband A's account

Total 300000 can be deposited in PPF by family


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Case 2 :

A : Husband opened account of ---------------------> B : Minor Kid
C : Wife opened account of ---------------------> D : Minor Kid

1) Husband A will put 100000 in Minor Kid B' account
2) Husband A will put 100000 in Wife C's account
3) Wife C will put 100000 in Husband A's account
4) Wife C will put 100000 in Minor Kid D' account

Total 400000 can be deposited in PPF by family

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Please confirm legality and validity of PPF examples mentioned by me and provide appropriate reference of Circular or GR for same

Replies (1)

Without considering the tax aspect, both the cases seems to be legitimate. However, taxation will be very different for the husband and for the wife.


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