Exempt income
This query is : Resolved
26 June 2019
Dear experts,
Please guide is it required to show Public Provident Fund maturity proceeds received after 25 years of account maintaining in Exempt Income schedule of Income Tax Return? The assessee has declared interest earned on PPF every year in exempt income schedule of ITR in all the previous assessment years.
If it is to be shown, which amount to be shown- only principal contribution or entire proceeds including interest?
Thanks and regards
Please guide is it required to show Public Provident Fund maturity proceeds received after 25 years of account maintaining in Exempt Income schedule of Income Tax Return? The assessee has declared interest earned on PPF every year in exempt income schedule of ITR in all the previous assessment years.
If it is to be shown, which amount to be shown- only principal contribution or entire proceeds including interest?
Thanks and regards
26 June 2019
No. Only interest earned during relevant year of maturity is to be shown as exempt income. As maturity proceed is not an income as it is capital receipt.
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
- Gst credit note by supplier
- Movement of goods by packers and movers - type of sale - Reg.
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Missed uploading GST Invoice
- Query on effect of registration of property
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Wrong CMPo8 file
- Equity Share Sale and Purchase
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
