Download Tax Saving Mutual Fund Application Forms

Invest In Tax Saving Mutual Funds Online

Buy Gold Mutual Funds

Leave a missed Call on

94 8300 8300

PPF account for children





Parents may decide to open a PPF account in the name of their minor children for longterm savings and reduced taxes. An individual can maintain only one PPF account in his name. When investors open the PPF account for their minor children, the account of the child is maintained under the guardianship of the parent. For all practical purposes, both accounts are seen as one.

Eligibility A resident individual can open a PPF account on behalf of a minor child in the capacity of a guardian.

Either of the parents can open the PPF account on behalf of the minor.

Documentation KYC documents, a passport size photograph along with the proof of age of the minor child (birth certificate/school certificate) are required to be submitted along with the account opening form.

Investment limit An individual's PPF account and PPF account under his guardianship together have an annual investment cap of `1 lakh.

According to PPF rules, the `1 lakh limit is applicable for an individual, not on per account basis. Interest will not be paid on amounts exceeding the limit.

Declaration Individuals need to declare all their PPF accounts -held in their name or their minor childrens' name -when opening a PPF account for a minor.

Tax exemption The guardian can claim a maximum of `1 lakh under section 80C. This limit will apply on the balances in both PPF accounts.

Both parents cannot open a PPF account for the same child. One account per person rule will apply.

In case of the death or incapability of the parents, any other court-appointed guardian can open a PPF account for a minor child.

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

Leave a missed Call on 94 8300 8300

Leave your comment with mail ID and we will answer them

OR

You can write back to us at

PrajnaCapital [at] Gmail [dot] Com

---------------------------------------------

Invest Mutual Funds Online

Invest Any Mutual Fund Online

Download Mutual Fund Application Forms from all AMCs

Download Mutual Any Fund Application Forms

---------------------------------------------

Best Performing Mutual Funds

1. Largecap Funds Invest Online
1. DSP BlackRock Top 100 Fund
2. ICICI Prudential Focused Blue Chip Fund
3. Franklin India Bluechip
4. ICICI Prudential Top 100 Fund

B. Large and Midcap Funds Invest Online

1. ICICI Prudential Dynamic Plan
2. HDFC Top 200 Fund
3. UTI Dividend Yield Fund
4. Birla Sun Life Front Line Equity Fund
5. Franklin India Prima

C. Mid and SmallCap Funds Invest Online

1. Reliance Equity Opportunities Fund
2. DSP BlackRock Small & Midcap Fund
3. Sundaram Select Midcap
4. IDFC Premier Equity Fund
5. Birla Sun Life Dividend Yield Plus
6. SBI Emerging Businesses Fund
7. HDFC Mid-Cap Opportunities Fund
8. ICICI Prudential Discovery Fund

D. Small and MicroCap Funds Invest Online

1. DSP BlackRock MicroCap Fund
2. Franklin India Smaller Companies

E. Sector Funds Invest Online

1. Reliance Banking Fund
2. Reliance Banking Fund
3. ICICI Prudential Banking and Financial Services Fund

F. Tax Saver Mutual Funds Invest Online

1. ICICI Prudential Tax Plan

2. HDFC Taxsaver

3. DSP BlackRock Tax Saver Fund
4. Reliance Tax Saver (ELSS) Fund

G. Gold Mutual Funds Invest Online

1. Relaince Gold Savings Fund
2. ICICI Prudential Regular Gold Savings Fund
3. HDFC Gold Fund
4. Birla Sun Life Gold

H. International funds Invest Online

1. Birla Sun Life International Equity Plan A

2. DSP BlackRock US Flexible Equity

3. FT India Feeder Franklin US Opportunities

4. ICICI Prudential US Bluechip Equity

5. Motilal Oswal MOSt Shares NASDAQ-100 ETF