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Chapter VI A Deductions

Direct Taxation

Sir, Section 80-C (2)(v) is referring PF set up by Central Govt. Q1 Is it referring only PPF or else the other two (RPF & SPF).....? Q2 Can we open PPF / RPF / SPF Accounts in the name of any other persons....?

Salman Faris

CA Inter

★ 44K+

09-Mar-21 16:00

272

Answers (1)

(1) Sec 80C(vi) refers to RPF and sec 80C(iv) refers to SPF (2) Yes for PPF, Under the PPF Scheme, 2019, Rule-3 sets the limits on the number of accounts which an individual can open. The rule allows opening of one's own account, and also on behalf of minor or a person of unsound mind of whom he or she is the guardian. A salaried employee can simultaneously become member of employees' provident fund (whether statutory, recognised or unrecognised) and public provident fund.