Cash deposited in PPF Account
This query is : Resolved
22 June 2021
A women received payment in cash Rs. 50,000 for religious teachings which she directly deposited cash in PPF Account instead of depositing first in her savings account. Does she need to show in her Income while filing the returns? Thanks 🙏🏻
23 June 2021
Irrespective of where she utilized, since the source of income is clear we have to offer for Tax purposes
27 June 2021
Thanks. It means she has to reflect the Amount under Income from other sources while filing her return and also can claim under 80C. Please guide 🙏🏻
27 June 2021
Right. Correct understanding.
03 July 2021
Sir! But the correct way is to first deposit the money in one’s savings account and then transferring it to PPF account... right
03 July 2021
Direct way or indirect way.. both are correct.
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