Ppf interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 January 2018
Hi everyone,
By mistake I invested in my PPF account 2,50,000/-. Want to know dat what's the impact of PPF interest received during the year? Plz tell me is PPF interest is tax free from the whole amount or interest is tax free from 1,50,000/-?
Thanks in advance. Plz answer as early as possible.
By mistake I invested in my PPF account 2,50,000/-. Want to know dat what's the impact of PPF interest received during the year? Plz tell me is PPF interest is tax free from the whole amount or interest is tax free from 1,50,000/-?
Thanks in advance. Plz answer as early as possible.
17 January 2018
PPF Interest is Exempted income you can enter under the head under Exempted Income.
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 January 2018
Means it doesn't matter how much amount I invest in PPF.
18 January 2018
Amount of investment will be eligible for deduction u/s 80c subject to maximum limit of Rs 1,50,000 but the interest you earn on it is eligible for exemption u/s 10.
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