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I am aware that citizens of India can contribute money into a public provident fund (PPF) which will get locked in for 15 years. I am also aware that one can open a PPF account on behalf of a minor if they are their legal guardian.

In my situation, my dad had opened a public provident fund account on my behalf around 10 years back when I was 17. He has been contributing to this account till date and has also claimed tax relief under section 80C for the same. This account will mature in 5 more years.

I have the following questions :

  1. Since I am no longer a minor, can I start contributing to this account right away and claim tax relief for my contributions? I understand that to do this, my dad will have to stop contributing to the account and stop claiming tax relief for the same.
  2. Do I need to submit some paperwork to the bank before I can start contributing to the account or can I start contributing right away and start claim tax relief for the same assuming that my dad will no longer contribute to this account?
  3. What will be the features of such a PPF account with respect to maturity, withdrawals, interest, tax on interest, etc.
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Since I am no longer a minor, can I start contributing to this account right away and claim tax relief for my contributions?

Yes

Do I need to submit some paperwork to the bank

Not to my knowledge. Best check with Bank.

What will be the features of such a PPF account with respect to maturity, withdrawals, interest, tax on interest, etc.

No difference. i.e. the Account would continue, as it was opened 10 years back, it would mature in another 5 years. You can extend this by a block of 5 years as long as required. The withdrawals are tax free in your hands including interest.

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