• Tax exemption on PPF deposits

My PPF account matured some time back which I did not renew or extend. However I had opened an account in the name of my minor son and deposits were made by me to that account. Now my son has become a major and his account has been converted into a major account. Will deposits made by me to his PPF account qualify for tax exemption u/s 80 C for me
Asked 1 year ago in Income Tax from Navi Mumbai, Maharashtra
Dear Sir,

You can claim the ppf deposited in your son's account.

Please feel free to call/revert in case of any doubts

Thanks and Regards 
Abhishek Dugar 
Abhishek Dugar
CA, Mumbai
2788 Answers
114 Consultations

5.0 on 5.0

Yes u can deposit the amount and get the benefit  under 80C
Vidya Jain
CA, Kolkata
525 Answers
11 Consultations

4.8 on 5.0


You can continue to claim 80C Deduction for PPF Contribution to your son's account even if he has become a Major (Provided the amount is deposited out of your taxable income and your Son is not claiming 80C Deduction for the same)
Pradeep Bhat
CA, Bengaluru
428 Answers
28 Consultations

5.0 on 5.0

You can claim deduction u/s 80C(2)(v) read with 80C(4)(a) in respect of contribution made into the PPF Account of your son, whether he is a major or minor. It does not matter even if you claimed deposits into your own PPF Account now or earlier. 
B Vijaya Kumar
CA, Hyderabad
834 Answers
47 Consultations

5.0 on 5.0

Hello Sir,

You can very well the amount deposited in your Son's PPF even though he has turned into a major.

Trust this clarifies your query. 

Feel free to call / get back in case of further clarifications. 

Thanking You. 

Rohit R Sharma
Rohit R Sharma
CA, Mumbai
2089 Answers
90 Consultations

5.0 on 5.0

Dear Sir,

Yes investment made by you is eligible for tax deduction to you.
Vishrut Rajesh Shah
CA, Ahmedabad
605 Answers
10 Consultations

5.0 on 5.0

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