29 February 2012
PPF can be taken on behalf of his child and claim 80C. However, such provision is not there for mutual fund unlike ULIP,insurance premium. So, if you refer to a mutual fund which is ULIP he can take on his child name and claim 80C. But, if it is a mutual fund simplicitor, he cannot take on his child name and claim 80C.
CAclubindia
