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PolicyWala NewBie
How much amount, can I deposit in three PPF accounts 70,000/- or 1,00,000/-?
I was reading on a website that maximum amount of Rs. 70000/- can be deposited in a PPF account combined together with accounts opened in the name of minors. Example - if I have opened two additional accounts for two minors (my son and daughter), so now I have three PPF accounts ( one in my name and two in the name of minors ). Can I deposit only Rs. 70000/- combined in above three accounts or deposit 70000/- individually in each account.
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PolicyWala Fan
You can deposit 70,000 per year in all the three accounts. But for tax rebate you can claim maximum 70,000 per year.
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