If I open two accounts, one in my name and the other in my son's name. I deposit Rs 70,000 each in both the accounts. I am clear that tax benefit is available upto a max limit of 70000 only. However when my son's account matures (after 15 years he would also become mature and loose the minority status) will that money be tax free and counted as his income and would the interest be accrued in his name
