https://www.taxtmi.com/article/detailed?id=1082 The article notes a mismatch between the PPF Scheme and income tax provisions: income tax rules permit HUFs to claim deduction or rebate for PPF contributions made in a member's name and exempt PPF interest, while the PPF Scheme ceased new HUF accounts and mandates closure of certain existing HUF accounts. The author argues that allowing PPF accounts in the name of an HUF would simplify reconciliation, KYC compliance using the Karta and members, prevent duplicate claims, and better serve long term household capital formation, urging reinstatement of HUF account eligibility and policy adjustments on deposits and withdrawals. en-us Tue, 04 Jan 2011 16:19:10 +0530 Tue, 04 Jan 2011 16:19:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1082 The article notes a mismatch between the PPF Scheme and income tax provisions: income tax rules permit HUFs to claim deduction or rebate for PPF contributions made in a member's name and exempt PPF interest, while the PPF Scheme ceased new HUF accounts and mandates closure of certain existing HUF accounts. The author argues that allowing PPF accounts in the name of an HUF would simplify reconciliation, KYC compliance using the Karta and members, prevent duplicate claims, and better serve long term household capital formation, urging reinstatement of HUF account eligibility and policy adjustments on deposits and withdrawals. Articles Income Tax Tue, 04 Jan 2011 16:19:10 +0530 https://www.taxtmi.com/article/detailed?id=1082