As the deadline for income tax returns approaches, income taxpayers are busy finding ways to avoid income tax. Under section 80C, income taxpayers will get a discount of up to Rs 1.5 lakh per annum if they invest in certain projects. One such project under Section 80C is the Public Provident Fund (PPF). PPF was established by the National Savings Institute under the Union Ministry of Finance. The purpose is to provide tax breaks to millions of unorganized workers outside the scope of the Provident Fund.  The rules of PPF are very straightforward. Any Indian citizen can open a PPF account in his own name or in the name of a minor at selected branches and post offices of a total of 16 banks, including State Bank. However, only one PPF account can be opened in one name. Accounts cannot be opened in the name of Hindu Undivided Family or in the joint name. According to the rules of 2019, a PPF account can be opened with a minimum of 100 rupees by filling a specific application fo...