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If I open a PPF account in my minor child?s name, can I claim tax deductions from both accounts i.e. my child?s and mine, when I file taxes?

By IndianMoney , 6 months ago

You can claim a deduction from total income in respect of contributions to any public provident fund belonging to self, spouse or child. But remember, this deduction is subject to an overall limit of Rs 1.5 lakh per FY under Section 80C.

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