my question is that if i deposit Rs 70000 in my PPF account and in my child's PPF account too, then the tax benefit will not doble. But whether the same procedure is followed if i deposit the same amount in my wife's PPF Account.
Re: about ppf
by Vinod Bharati on Sep 18, 2010 03:36 PM Permalink
the combined deposit of more the INR 70000/- in self and minors account to whom you are guardian is not allowed. However you can contribute addiitonal INR 70,000/- to your wifes account as the interest from PPF is taxfree and hence no question clubbing of income.
