Can I open a new PPF account in my son's name?

I have one PPF account in SBI in my name. Now I want to open another account in the name of my son (who is 5 years old). Can I open an account in his name? I am already deposited full Rs. 70,000/- in my account ( FY2011-12). Can I deposit additional money in my sons account, around Rs.10,000 or 20,000 or is there any limit?

Yes, you can open a new account in your son name.
Yes, you can deposit any amount in your son's account. But you will not get any tax rebate for this extra amount.

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Originally Posted by dominate

I have one PPF account in SBI in my name. Now I want to open another account in the name of my son (who is 5 years old). Can I open an account in his name? I am already deposited full Rs. 70,000/- in my account ( FY2011-12). Can I deposit additional money in my sons account, around Rs.10,000 or 20,000 or is there any limit?

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On each account there is a deposit limit of Rs.70000/-.