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PolicyWala NewBie
PPF account for minor
I and my wife both have a PPF account and are investing 70000 per year in it and claim 80C benefit for incometax deduction
I tried to open an account for my child 4 years old but the bank is refusing to open the account stating that as I already have an account I cannot open another one even in my childs name
kindly inform what is the standard procedure
Any govt order related to this please provide
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