Interest on PF & Interst on PPF

This query is : Resolved

bhumika (Querist)
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22 March 2008 I am PCC Student, in our firm we are using software for computation of income tax named as Taxbase,I want to know what is tax treatment of Income from Interest on PF & Interst on PPF.

pushpendra

pushpendra (Expert)
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22 March 2008 Intt.on ppf is exempt u/s 10 and interest on P.F. is depends on the type of fund and facts to facts of the case

laxman

laxman (Expert)
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22 March 2008 Intt.on ppf is exempt u/s 10 and interest on P.F. is taxable as income from other sources.

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K V Subba Rao

K V Subba Rao (Expert)
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23 March 2008 Interest credited to Recognised Provident Fund is also exempt from tax (Source: Para 17 of 29th edition of Singhania's Direct Taxes Ready Reckoner)