New Delhi, March 2 -- If you, your wife, and your daughter qualify as residents of India for tax purposes, and your daughter is not a minor (i.e., she is 18 years or older), the following tax implications apply to the receipt and transfer of PPF maturity proceeds:

Exemption on PPF maturity proceeds: The maturity proceeds from the Public Provident Fund (PPF), being solely funded by your wife, will be entirely exempt from tax in her hands.

Tax treatment of gift transfers: If your wife transfers the PPF maturity proceeds to you and your daughter as a gift, it will not attract any tax liability. Since gifts received from specified relatives (such as a spouse or parent) are exempt from taxation, the amounts received by both you and your daug...