PPF Investment for wife

amyags 31
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My wife is housewife and she does not have any income but i files ITR for her every year. Now i am planning to open PPF account for her and the queries are:

1: Can i show this investment in her ITR under 80C?

2: Final PPF corpus will be TDS free after 15 years?

ppf-investment provident-fund income-tax-return tax-saving income-tax
1 Answers

Hi I. Yes, you can show this investment in her ITR under sec 80c 2. Yes, the final corpus received would be tax free on maturity

mayank6633371

Thanks Mayank, but as i am showing NIL income for my wife in ITR then still i will be able to get the same benefits on her behalf??? please confirm.

amyags•

Dear Amyags, An individual is eligible to claim deduction from total income in respect of contributions to any PPF (belonging to self, husband, wife, any child) subject to an overall limit of Rs 1,00,000 for a Financial Year

mayank66333•
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