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deduction of ppf sec80c

a spouse has two minor children & they wants to open public provident fund to the name of both children. so my query is  who will  get ppf amount deduction sec. 80c? mother or father 



By: SUBRATA BERA

WHO WILL DEPOSIT THE AMOUNT IN PPF A/C WILL GET THE DEDUCTION U/S 80C OF I T ACT.



By: B L AGGARWAL FCA

Person can claim the deduction equal to amount contributed by the respective person out of his earnings.



By: CA. SURINDER CHUGH

Dear Subrata,

If father will contribute in minor's PPF, then he will get the benefit and if mother will contribute, then she will get the benefit. 

If you have any question, Pl post the same.

Kind Regards
TaxReply.com



By: TAXREPLY.COM
but I think this case is clubbing so I known that whome income is highest this deduction will be adjust his/her income so discuss it pls

By: SUBRATA

Mr. Subrata; where is the question of clubbing involved. Right now we are talking of the contributions made by the parents out of their own taxable incomes and not out of minor's income. The taxability of income accruing to the minor is a separate issue.



By: ABDUL RASHID DULLOO

The Person who deposit the amount will get deduction upto Rs. 150,000 in agreegate under section 80C.

One more important thing, every PPF Account will be opened with a PAN only.

In case of minor there should be a guardian and PAN of the guardian attached with account.

PPF account only take maximum deposit upto the Rs. 150,000 (from this year). 



By: RAVI KUMAR CHONA

The person contribute to PPF can claim dedution in the Income Tax Return



By: INDERPAL SINGH PASRICHA



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20 Apr

☑ Monthly | GSTR-3B

GSTR-3B for the m/o Mar 2024 (Monthly Taxpayer - Rule 61) - Either Compulsory taxpayer > 5 cr. or Voluntary taxpayer < 5 cr.

☑ Monthly | GSTR-5A

GSTR-5A for the m/o Mar 2024 [Return by OIDAR Service Providers - Rule 64.]

22 Apr

☑ Quarterly | GSTR-3B

GSTR-3B for the Quarter Jan - Mar 2024 (QRMP Taxpayer < 5 Cr - Rule 61) - Category I States.

* State Category I - Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra Pradesh or the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands and Lakshadweep.

24 Apr

☑ Quarterly | GSTR-3B

GSTR-3B for the Quarter Jan - Mar 2024 (QRMP Taxpayers < 5 Cr - Rule 61) - Category II States.

* State Category II - Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha or the Union territories of Jammu and Kashmir, Ladakh, Chandigarh and Delhi.

25 Apr

☑ Half-Yearly | ITC-04

ITC-04 for the half year (Oct - Mar 2024) (For taxpayers > 5 Cr. Turnover) - Rule 45.

☑ Annual | ITC-04

ITC-04 for the FY 2023-24 (For taxpayers upto 5 Cr. Turnover) - Rule 45.

28 Apr

☑ Monthly | GSTR-11

GSTR-11 for the m/o Mar 2024 (Statement of inward supplies by persons having Unique Identification Number (UIN)).

30 Apr

☑ Annual | GSTR-4

GSTR-4 (Annual Return) for FY 2023-24 by Composite Taxpayer (Rule 62).

☑ Quarterly | QRMP

Last date for opt-in / opt-out QRMP Scheme for quarter Apr - June 2024 (Rule 61A)