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Exempt income a. y. 2021-22

10 May 2021

What are the exempt income in a. Y. 2021-22? Is dividend(s) from equity & mutual fund exempt income? If not, then are these dividends are to be included in total income? Is ppf interest exempt income?

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8 Replies

divya (Miss ) (118 Points)
Replied 10 May 2021

Ppf interest in exempt income

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geeta (UNEMPLOYED) (80 Points)
Replied 11 May 2021

Lic also

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 11 May 2021

Ppf Interest is exempt income.

dividend from mutual funds are tax free

Lotus Agrawal (Practice) (1361 Points)
Replied 11 May 2021

Yes these are exempt income.

Debojit Samanta (116 Points)
Replied 11 May 2021

But tax deducted from many mutual fund dividends which is showing in 26AS form.

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CMA Poornima Madhava (CMA) (13112 Points)
Replied 11 May 2021

As DDT has now been abolished, I think dividend income is taxable. TDS @ 10% when it exceeds Rs.5000.

veerendar singh (tax consultant) (3301 Points)
Replied 11 May 2021

No dividends are exempt now. ppf continues to be exempt.

Naresh Lathia (Sr.Accountant) (40 Points)
Replied 21 May 2021

Dividend received in not tax free above 5K. Bank interest is also tax free till certain limit, PPF Interest will continue tax free income maybe life time.