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Treatment of Forgotten PPF Interest

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(Querist)
02 March 2010 What is the treatment of forgotten Public
Provident Fund Interest in accounts? In Income Tax any penalty for forgotten PPF interest?
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shakuntala chhangani

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shakuntala chhangani (Expert)
23 March 2010 Hi Bhavesh, there is nothing to worry about as PPF interest is exempted income u/s 10(15). Simply show the same in capital a/c as well as PPF A/c on the asset side. ur Balance sheet will tally. Regards, CA Shakuntala Chhangani

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