Deductions 80c
This query is : Resolved
24 June 2013
Can I deposit in my PPF account and my minor son PPF account 1 lakh EACH - so together 2 lakh deposit in the PPF. I would be claiming tax exemption under 80C only for 1 lakh for myself? Then opening of a minor PPF account is not tax saving at all, isn't it?
24 June 2013
yes, the limit of 80 C is rs. 100000/- so no tax benefit to invest more.
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