Is interest on minor’s PPF account taxable?
Please note that as per the Public Provident Fund Scheme, 2019, an individual may open PPF accounts in their name, as well as in the name of each minor child
I am working with a multi-national company (MNC) and my Public Provident Fund (PPF) contribution is around ₹5 lakh. Can I open separate PPF accounts for my two minor children? Will the interest on those PPF accounts be clubbed with my income and is it taxable? Also, my wife is a doctor and contributes ₹1.5 lakh towards her PPF account. How can we manage investments in PPF ?