Can I get PPF deductions in parents’ name?

Forums Deductions Can I get PPF deductions in parents’ name?

Can I get PPF deductions in parents’ name?

I am depositing Rs. 10,000 every month in my mother’s PPF account. Can I get any tax benefit?

Profile photo of Sagar Dalavi Asked By: Sagar Dalavi 4 replies 0 helpful answers Last Updated: 4 weeks, 1 day ago
  • Profile photo of Sagar DalaviSagar Dalavi
    Participant

    I am depositing Rs. 10,000 every month in my mother’s PPF account. Can I get any tax benefit?

  • Profile photo of Roohi RasheedRoohi Rasheed
    Moderator

    No, you cannot get tax benefit in this case. Deduction for deposit in PPF account is available under section 80C only for the contribution made in the name of individual himself or in the name of his spouse or kids.

    • Profile photo of sa indiansa indian
      Participant

      Can you clarify further here – can a grandparent deposit money in minor grandchilds ppf account? grandparent do not need any 80c benefit but only want to gift to minor grandchild? Can they directly deposit cash or cheque in grandchild’s ppf account? is this permissible?

  • Profile photo of shreenairshreenair
    Participant

    One can put money in PPF or Senior Citizens Savings Scheme (SCSS) in the name of spouse/parents and earn tax-free returns https://vlc.onl/. If you have exhausted the Rs 1 lakh limit under PPF, you can gift money to spouse, parents, adult children or siblings, https://www.happywheels.vip/ who can invest it in PPF. https://ccleaner.vip/

  • Profile photo of Amit Kumar BansalAmit Kumar Bansal
    Participant

    No, You can avail the benefit u/s 80C for yourself and your spouse including children. https://financialcontrol.in/public-provident-fund/

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