Tipping Point: Can I open a PPF account in my child's name?

The combined amount that one can invest is capped at Rs 1.5 lakh a year

Business Standard 

Yes, you can, as a guardian, open a Public Provident Fund (PPF) account in the name of a minor child. However, father and mother cannot open separate accounts in the name of the same child. Only one account should be opened per child.   What are the rules governing a child’s PPF account?  While accounts can be opened in the name of minors, the combined amount that one can invest is capped at Rs 1.5 lakh a year. Similar rules apply for tax deduction under Section 80C. If you have one account of your own and two accounts of your minor children, you can avail ...

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