PPF Investment for wife

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?

asked Nov 02 '12 at 16:07 by amyags 31237


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

answered Nov 02 '12 at 21:42 by mayank66333 7114

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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.
(Nov 06 '12 at 12:13) 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
(Nov 07 '12 at 00:28) mayank66333

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Asked: Nov 02 '12 at 16:07

Seen: 2,878 times

Last updated: Nov 09 '12 at 10:29