WebDec 16, 2024 · You can open the PPF account in your wife's name and invest Rs 1.5 lakh per annum on her behalf. However, the money given to your wife will be clubbed to your income. Getty Images The interest and maturity amount of PPF is exempted from Tax. I am a government employee and invest Rs 1.5 lakh in Public Provident Fund (PPF) every year. WebA PPF account can be opened at nationalised banks, public banks, post offices and selective private banks, all of which have a wide reach. 3. Although the lock in period is 15 years for a PPF, there are provisions to either withdraw some money or take loans after 7 years. The returns from a PPF is more attractive compared to the bank FDs. 4.

PPF Account for Minors: Eligibility, Documents Required & Taxation

WebYes,you can open a PPF account for your child,who is a minor (below 18 years of age) wherein you can handle the account and make the deposits in the minor PPF … WebDec 30, 2024 · An adult can open a PPF account for self or on behalf of a minor. The account tenure is 15 years and the lock-in period for the account is 15 years. You can deposit to a PPF account ranging from Rs.500 up to Rs.1.5 lakh per financial year, either in lump sum or instalments. There is no restriction on the number of instalments per … bulacan tarlac airport expressway

Can I open PPF a/c for minor? - Quora

WebPPF as one of the saving tools for your child’s higher education! A parent/guardian (parent) can open a PPF account in the name of the minor, here the parent… Nishant D'Souza … WebPPF as one of the saving tools for your child’s higher education! A parent/guardian (parent) can open a PPF account in the name of the minor, here the parent… Nishant D'Souza no LinkedIn: #investment #ppf #portfolio #highereducation #personalfinance #ndkapita WebOct 1, 2024 · He or she may open accounts for his/her minor children, but total investments in PPF against a single PAN cannot exceed the statutory limit, which is now … crush in sign language