PPF
This query is : Resolved
VINAYAK D PRABHU
(Querist)
04 March 2009
WHETHER MATURITY PROCEEDS FROM PUBLIC PROVIDENT FUND IS TAXABLE UNDER INCOME TAX ACT, 1961.
04 March 2009
Anu sum received from PPF scheme,1968 is exempt u/s 10(11) of the Income tax Act,1961.
VINAYAK D PRABHU
(Querist)
04 March 2009
Thank you Sir,
I would like to know further regarding this, because u/s 10(11) of the Income Tax ACt, 1961, it is mentioned that any payments.
Could you please explain to me further in this regard...
I would like to know further regarding this, because u/s 10(11) of the Income Tax ACt, 1961, it is mentioned that any payments.
Could you please explain to me further in this regard...
VINAYAK D PRABHU
(Querist)
04 March 2009
Sir, could you please explain further in this regard....
CA Tirth Ajani
(Expert)
04 March 2009
under ppf deduction under section 80 C is available and when on maturity the lump sum amount is received is exempt from tax and also the interest credit to the provident fund too is exempt at the time of receipt.
any paymnet means interest credit as well as the payment made towards the provident fund under section 80C is exempt.
any paymnet means interest credit as well as the payment made towards the provident fund under section 80C is exempt.
05 March 2009
No PPF Amount Recd not liable for any Tax
PPF Interest is also Tax Free
PPF Interest is also Tax Free
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