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I have PPF account in joint name - my name as well as my daughter’s (minor) name; my wife also has another Joint PPF account with her name as well as son (minors) mane. Can I deposit Rs. 70000/- in my account as well as in my daughter’s account? Can my wife also deposit – Rs. 70000/ in her as well as son’s account?
Your query is not clear. But in an PPF account in a year you can deposit max - 1 lakh and get a tax rebate upto 70000/-.
Sorry for the wrongly phrased query - We have four accounts - My Name, My wife's name, son and daughter's name. In my daughter's account I am nominee and in my wife's account my son is nominee.
You can deposit 1 lakh in each account from 01/12/2011.Quote:
Originally Posted by Mahesh