PPF Capital

kishor asked 2 years ago

Dear Sirs,
I have been contributing to PPF account on the name of my wife and was availing tax deduction. An account on the name of my wife was opened during 1990 & was extended every 5 years after completion of first 15 years. She is a housewife. Now my question is that the amount I receive by closing her PPF account will be considered as a capital of mine OR my wife? Can she further invest this money on her own name OR i will have to take that amount in my name?