Can a father withdraw PPF investments made by him in the name of his daughter, to use the money for her maintenance? A recent case raised this very issue, in which Delhi High Court delivered a ruling, clearing who is entitled to the money withdrawn from such a PPF Account.
In this case, the father closed the PPF account on maturity which he had opened in his daughter’s name when she was a minor, and transferred the money to his personal account. While admitting to it, the man said he was entitled to close the account and the amount was being used for the benefit of the daughter.
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