PPF rules: Why Kerala HC asked a mother to return extra interest in kids’ accounts - Explained
The Kerala High Court has ruled that deposits in minor children's PPF accounts are combined with the guardian's account for annual deposit limits. Excess interest earned on these over-limit deposits made while the children were minors can be lawfully recovered by the Post Office, clarifying deposit clubbing rules.
The Kerala High Court has ruled that deposits in minor children's PPF accounts are combined with the guardian's account for annual deposit limits. Excess interest earned on these over-limit deposits made while the children were minors can be lawfully recovered by the Post Office, clarifying deposit clubbing rules.
