11 February 2011
My HUF PPF account is closed as per latest govt. directive.If my HUF contributes Rs. 70000 to PPF account of my major unmarried son, does my HUF gets income deduction under sec 80-c of I. Tax act for Rs. 70000 for amount it has paid from HUF's own fund to my son's PPF account ? In short does HUF gets deduction u/s 80-c for contribution to PPF account in member's name ?
CAclubindia
