hi,
HUF CAN INVEST IN PPF AND CLAIM ITS INCOME AS TAX FREE INCOME....
7 Replies
CA. C V SURYAM
(Practising Chartered Accountant)
(865 Points)
Replied 27 June 2008
What is new in this?
Rushikesh
(Chartered Accountant - Manager Finance)
(2375 Points)
Replied 27 June 2008
Yes, HUF can, what is the question?
kalpana hegde
(chartered accountant)
(32 Points)
Replied 27 June 2008
can anyone tell me that ITR2 Forms which u have to download from website or you can collect it from it office?
SANJAY JAGTAP
(STUDENT)
(25 Points)
Replied 27 June 2008
HELLO...FRND..
PPF IS ALREADY DEDUCT UNDER SECTION VI-A. OF INCOME TAX ACT.
UNDER 80-C...
Ronak Shah
(Student)
(75 Points)
Replied 27 June 2008
No, HUF Cannot Invest in PPF. This is the only area in which HUF cannot invest
Murlee
(Professional)
(204 Points)
Replied 28 June 2008
I disagree with Roank's View,
According to Income Tax Act, to get the benefit of deduction U/s. 80 C, amount deposited by an individual in his own PPF account or in the account of hi/her spouse (in case of HUF in the account of any member of the family) is eligible for deduction.
Please refer to Taxmann ready reckoner 31st edition page A-208, note 4
nirav poptani
(student)
(33 Points)
Replied 28 June 2008
my question is tht only tht can huf invest in ppf???
as much i know huf enjoys eyerything tht individual does but except ppf.........
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