PPF Accounts
This query is : Resolved
30 December 2009
My query is .
I have created a HUF firm and i have openend a PPF accounts with the name of their co partner. Now can i get the deduction u/s 80-C in HUF Return and in their co partner return.
What will be better for me for opening PPF account "SBI" or POst office
Please reply me soon.
Thanks in advance
I have created a HUF firm and i have openend a PPF accounts with the name of their co partner. Now can i get the deduction u/s 80-C in HUF Return and in their co partner return.
What will be better for me for opening PPF account "SBI" or POst office
Please reply me soon.
Thanks in advance
30 December 2009
it is one and the same thing ultimately your money will be deposited to govt in your PPF account
30 December 2009
agree
31 December 2009
If I am not wrong, PPF accounts can not be opened in the name of HuF.
Only in name of individuals
Only in name of individuals
31 December 2009
Public Provident Funds
Indian Postoffice Savings
Who can open a Public Provident Funds account:
An individual :
in his own name,
on behalf of a minor of whom he is a guardian,
a Hindu Undivided Family.
Where to open a PPF account
at designated post offices throughout the country and
at designated branches of Public Sector Banks throughout the country.
Maturity period
The account matures for closure after 15 years.
Account can be continued with or without subscriptions after maturity for block periods
of five years.
Nomination
Nomination facility is available under Public Provident Funds accounts.
.
Deposit limits
Minimum deposit required is Rs. 500 in a financial year.
Maximum deposit limit is Rs. 70,000 in a financial year.
Maximum number of deposits is twelve in a financial year.
Indian Postoffice Savings
Who can open a Public Provident Funds account:
An individual :
in his own name,
on behalf of a minor of whom he is a guardian,
a Hindu Undivided Family.
Where to open a PPF account
at designated post offices throughout the country and
at designated branches of Public Sector Banks throughout the country.
Maturity period
The account matures for closure after 15 years.
Account can be continued with or without subscriptions after maturity for block periods
of five years.
Nomination
Nomination facility is available under Public Provident Funds accounts.
.
Deposit limits
Minimum deposit required is Rs. 500 in a financial year.
Maximum deposit limit is Rs. 70,000 in a financial year.
Maximum number of deposits is twelve in a financial year.
31 December 2009
agree to Mr.anilsir
31 December 2009
There is an RBI circular dated MAy 31, 2005 dicontinuing new HUF PPF accounts.
Pls find attached the link to a related article
http://www.hindu.com/biz/2005/06/27/stories/2005062700291600.htm
Pls find attached the link to a related article
http://www.hindu.com/biz/2005/06/27/stories/2005062700291600.htm
31 December 2009
YES BUT THOSE HUF ALLREADY MEMBER WILL NOT DISCONTINUE.NEW HUF CAN NOT OPEN THE PPF DO AGREE WITH MR.BHAVESH.
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