Any Indian citizen can open PPF account but NRIs and HUFs are not allowed to open PPF account. Speaking on the PPF account holder moving to abroad before maturity of the account; Amit Gupta, MD at SAG Infotech — a SEBI registered tax and investment solution company said, "A PPF account holder moving abroad before maturity of the account is allowed to continue investing in one's PPF account. The account holder can continue to invest ₹1.5 lakh per annum in one's PPF account and claim income tax benefit given under Section 80C of the income tax act, if the account holder is filing income tax return (ITR) in India." However, Amit Gupta of SAG Infotech said that the PPF account holder won't be allowed to extend one's PPF account after the maturity period. In fact, if a PPF account holder has extended PPF account and then its citizenship changes from an Indian to an NRI, then in that case too, the PPF account holder can continue investing till the maturity period of the PPF account."

Source: Mint August 14, 2021 05:48 UTC