PPF account in name of minor

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  1. dramangupta68

    dramangupta68 New Member

    I have two PPF accounts in post office. One in name of ‘self’ and other in name of my minor daughter. After completion of 15 yrs of minor PPF account I had extended that account again for block of 5years when my daughter was still minor. My daughter has now attained major status in 2016 and the said PPF account is due for maturity in 2019.

    (1) Do this account convert compulsory in major account? Do I have to give any instructions for convert?

    (2)What is the process of conversion of minor PPF account to major and which document are required? No format for conversion is available on post office website.

    (3) What are tax implications? Please advice.
     
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