I am Govt. servant & a tax payer. I do have PPF account.My wife also a tax payer being a businesswomen. She also have PPF account. Both utilised the full benifit of 80C by depositing 1 lakh each . We have two minor children. They do not have PAN and other source of income. Deposit amount may be from either of us or gift from non relatives
- Can it be possible to open PPF account in the name of monors?
- what is the tax implication?
- advatages / disadvantages?
- any other possible manner
- can I open more than one accounts ? For 2nd PPf account the interest gained can it be shown as my income?
CAclubindia
