Ppf
This query is : Resolved
08 July 2014
1) Interest on PPF
2) Amount contributed by self to PPF Account
please tell me under which section both are exempted ?
2) Amount contributed by self to PPF Account
please tell me under which section both are exempted ?
08 July 2014
EXEMPTION U/S 10(11) Any Payments received from a provident fund to which provident fund act applies Or from PPF set up by central govt. is exempt from tax.
08 July 2014
Exempted u/s 10(11) of the Income Tax Act 1961.
08 July 2014
u/s 10 it is exempt the intt on PPF.
08 July 2014
INTEREST ON PPF EXEMPTED U/S 10 IS OK...
BUT AMOUNT DEPOSITED/CONTRIBUTED TO PPF A/C,
DEDUCTION UNDER WHICH SECTION?
BUT AMOUNT DEPOSITED/CONTRIBUTED TO PPF A/C,
DEDUCTION UNDER WHICH SECTION?
08 July 2014
Dear such amount deposited is your investment not your income. So question of exemption does not arise.
08 July 2014
Dear CMA. CS.SANAJY JEE...PLEASE FOLLOW THE BELOW MENTION PATH ON GOOGLE..
http://taxguru.in/income-tax/all-about-deduction-under-section-80c-and-tax-planning.html
http://taxguru.in/income-tax/all-about-deduction-under-section-80c-and-tax-planning.html
08 July 2014
Yes Manoj Ji Deduction for investment in PPF is available u/s 80C. I thought you were asking about amount invested in PPF received on maturity.
It is a well known fact that investment in PPF is eligible for deduction u/s 80 subject to a maximum of Rs 1 lac.
It is a well known fact that investment in PPF is eligible for deduction u/s 80 subject to a maximum of Rs 1 lac.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- GST ON EXPORT COMMISSION
- RCM INVOICING FROM NOV-2024
- Tds on building rent monthly
- Disallowance of Section 43B(h) to sez units
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
