PPF tax benefit clarrification

[Guest]

Hi,

I have ppf account and planning to get tax exemption by providing the ppf account book statement copy.

But I transferred money from my wife salary accountto my ppf account.

And the detail that it transferred from my wife account and my wife name is showing on the particulars of my ppf account.

So my doubt is, is it create any problem for the tax exemption for me(I need the benefit to get for my salary tax-since my wife already have different ppf account and have money on it for her tax benefit),since it's giving the detail on passbook that it transferred from different person account and have my wife name on it. Please reply.

Thanks in Advance,

Jay

[Ganeshan Kalyani]

In my view you are eligible for income tax claim. contribution in PPF by your wife will not affect the fact that the PPF account is in your name.

[DR.MARIAPPAN GOVINDARAJAN]

No problem will be created.

[Guest]

Thanks both for your valuable reply

AI Summary

PPF contribution treatment: spouse-funded deposits do not bar the account holder's tax deduction for PPF contributions. A PPF account holder's income tax deduction is not negated when deposits are funded from a spouse's bank account and the passbook shows the spouse as transferor; entitlement follows account ownership and third party or spousal contributions do not, by themselves, affect the account holder's claim.