Ask Value Research

Paying for PPF from HUF account

Only if both parents are not alive or both parents are alive but are incapable, a legal guardian can open a PPF account

I would like to know whether I can pay for my grandson's PPF account from my HUF account where I have income from stocks. Can I claim tax benefit?
- Ankit Shah

Two category of investors can open a Public Provident Fund (PPF) account: an individual or a minor through guardian. Guardian can be biological mother or father. If both parents are not alive or both parents are alive but are incapable, then legal guardian (aunt, uncle, grandfather, grandmother etc.) can open the account.

This article was originally published on October 12, 2015.

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