Ppf interest
This query is : Resolved
21 August 2019
I have not shown ppf interest in earlier it returns
My ppf is matured in financial year 2019-20
Yet to file 2018-2019 return
My ppf is matured in financial year 2019-20
Yet to file 2018-2019 return
22 August 2019
PPF INT INCOME IS EXEMPT INCOME AND MATURITY ALSO NOT TAXABLE.
DONT WORRY
DONT WORRY
22 August 2019
Yes. PPF interest and maturity proceeds are exempt. You need to show it in ITR under Exempt Income which is just a disclosure requirement.
22 August 2019
PPF falls under EEE (Exempt,Exempt,Exempt) tax basket. Contribution to PPF account is eligible for tax benefit under Section 80C of the Income Tax Act. Interest earned is exempt from income tax and maturity proceeds are also exempt from tax.
22 August 2019
@CMA CS Sanjay Gupta : great to see you after a long time
22 August 2019
As PPF Is matured
So can i show full maturity amount as exempt income i.e. principal+ interest
So can i show full maturity amount as exempt income i.e. principal+ interest
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
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
