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Thread: Income Tax benefit - On my children's PPF accounts

  1. #1
    PolicyWala Newbie
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    Question Income Tax benefit - On my children's PPF accounts

    I have opened two ppf accounts on my children individually, when they were minor. They have become major now. There are still a couple of years before the ppf matures i.e. completion of 15 years. Pls advice, if I can still claim income tax benefit, when I contribute to my children's PPF accounts.




  2. #2
    Moderator CONFUSED's Avatar
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    You can claim tax benefit for your children's PPF account, till your children are minor.
    Rules/Guidelines at PolicyWala | Help Old People |
    I am speaking from experience and my own personal views above - I am not an advisor, nor an expert.

  3. #3
    Moderator Taxman's Avatar
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    Quote Originally Posted by CONFUSED View Post
    You can claim tax benefit for your children's PPF account, till your children are minor.
    Confused is right. So deposit Rs. 70000/- in your PPF account and take IT claim.
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    Everyone thinks of changing the world but no one thinks of changing himself - Leo Tolstoy


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