Legal Question in Tax Law in India

tax on kid's PPF

I have a PPF account with 70000 deposited in it.

Can I open account PPF in my wife�s(housewife) or son�s(4 years)name?

Can I invest 70000 to each of them?

Will the interest coming from it will be taxable to me & I have to show in my return?


Asked on 5/13/07, 10:37 am

1 Answer from Attorneys

PRAMOD SINGH SINGHS LAW ASSOCIATES

Re: tax on kid's PPF

you can open ppf account in the name of either wife or son and you can invest as amount as you wish but if both are depandant on you then interest would be calculated in your income.

Read more
Answered on 5/19/07, 8:14 am


Related Questions & Answers

More Tax and Taxation Law questions and answers in India