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Ppf deduction u/s 80c

Deepak Patel (CA Final) (136 Points)

14 February 2013

Hello Frnds.

Whether an individual can avail deduction u/s 80c for investment made in PPF in the name of major child (Married/Unmarried)?

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5 Replies

dipesh mehta (CA FINALIST) (157 Points)
Replied 14 February 2013

First of all your question is not clear...An individual whose has a sparate income tax file in his own name and investment in ppf is made in his name than he can claim a deduction of Rs. 100000 u/s 80C.

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CA Prashant Gupta (DGM (F & A)) (14068 Points)
Replied 14 February 2013

as per income tax act, an individual can depsoit for his child in PPF

so there is no restriction in income tax for minor or major child

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Deepak Patel (CA Final) (136 Points)
Replied 15 February 2013

Wat if an investment made by major child (Married). Can his father claim d deduction u/s 80c. because major child is not allowed to file his individual return due to his articleship.

Rishabh (Student CA IPC / IPCC) (21 Points)
Replied 20 February 2013

No, his father can not claim the deduction because deduction is allowed only to father for making investment in child name and secondly an individual can file his return even though persuing articleship.

deduction u/s 80c for investment made in PPF in the name

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