DINESH KUMAR NAGAR (CA-FINAL STUDENT) (72 Points)
27 December 2011FRNDS I NEED YOUR HELP ON THIS ISSUE
WHETHER AMT RECD ON MATURITY OF PPF IS TAXABLE?
IF WE EXTEND THE MATURITY PERIOD FOR FURTHER, WHETHER WE CAN CLAIM RELIEF IN I.TAX
Naresh Patel
(C.A. Final)
(144 Points)
Replied 27 December 2011
CA Ketan Waghela
(Partner at Elite Educare)
(356 Points)
Replied 27 December 2011
Dinesh ji,
Withdrawal os PF before 5 years of continuous service is taxable.
Amount received on maturity is not taxable. Further, it can be reinvested and claimed u/s 80C.
CA PRABHAKAR JHA
(ACA)
(313 Points)
Replied 28 December 2011
Mr. Ketan Waghela, Mr Dinesh is talking about PPF not RPF,
Sec 10(11) exempts any payment from PPF
CA Mudit Agarwal PGDFM,MCP,IFR
(Dy. Manager (Taxation))
(289 Points)
Replied 28 December 2011
Agreed with naresh and prabhakar.......
Amount received on maturity of PPF is fully exempt......Further If u extend the period , you can avail exemption u/s 80C.
And withdrawl from PPF before its maturity is not taxable at all......only u have to pay the penality to regularize your account...
CH.MARUTHI RAM
(TAX CONSULTANT)
(69 Points)
Replied 28 October 2016
sir,
one of my client need a g g copy of ppf tax exemption
Malhar Deshpande
(212 Points)
Replied 17 April 2018
can one show complete maturity amount of PPF in ITR in the year of maturity. I have not shown interest every year in ITR for last 14 years next year PPF will mature. is it allowed to show all amount that is principal amount and interest in next year's itr. please help
Malhar Deshpande
(212 Points)
Replied 17 April 2018
can one show complete maturity amount of PPF in ITR in the year of maturity. I have not shown interest every year in ITR for last 14 years next year PPF will mature. is it allowed to show all amount that is principal amount and interest in next year's itr. please help
Malhar Deshpande
(212 Points)
Replied 19 April 2018
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