Dear Pankaj,
I have a PPF account and I have read Your PPF post also.
My father is 51.and my mother is 45. Now my father falls under first slab .
He is receiving govt pension and some interest from fixed deposit which will come under the taxable limit.I want to create a Fund for my mother at the age of Sixty(mother s age).My mother is a house wife.
1.I open a PPf account in my mother s name and I pay the money to a E or S acc (father and mother).. I dont want to take tax exemption. As money is going from the Father s account(i transferred) to the mother PPf account is father eligible to get the income tax exemption ?
- While opening PPf account can it be opened in E or S mode or only in single operation mode?
You can say i can open a PPf account in my Father s name the above complication will not occur. At his age i dont want to open a PPf account. and he cant go the branch and do the form filling and all. that is the reason. and i dont want to lose the money in tax also without doing any tax saving options.
Pls guide me. regards Vignesh
