Tipping Point: Can I open a PPF account in my child's name?

Yes, you can, as a guardian, open a Public Provident Fund (PPF) account in the name of a minor child. However, father and mother cannot open separate accounts in the name of the same child. Only one account should be opened per child.  

What are the rules governing a child’s PPF account? 

While accounts can be opened in the name of minors, the combined amount that one can invest is capped at Rs 1.5 lakh a year. Similar rules apply for tax deduction under Section 80C. If you have one account of your own and two accounts of your minor children, you can avail tax deduction of Rs 1.5 lakh only. In case your child is a major, you can still invest in his PPF account. If you invest from your income, you can claim deduction.