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i am salaried & having my own ppf account. I want to open another account in my wife name (housewife). can i transfer money to my wife saving account & she can put in her ppf account, is there any tax implication on her (getting money transfer from husband) or for me to club the income she will earn in ppf account?

she has pan card but don't file ITR (as no income), few from lime tutions etc....does she need to file ITR at the end of year if invest in ppf?

tks
asked in PPF by (120 points)

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1 Answer

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You've to pay income tax on money you earn. You can then, transfer funds to your wife account and show it as a "Loan to Wife". You wife needs to file ITR to show the source of this income in her bank account.

It's better to avoid such large accounting. Better you invest extra money in mutual funds via SIP.

Admin
answered by (48.8k points)

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