CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 29 November 2014
It is non taxable......consider it as exempt income
Rohit Gupta
(Audit Executive)
(271 Points)
Replied 29 November 2014
Dear Pawan,
Section 10 of Income Tax Act 1961 specifies the INCOMES WHICH DO NOT FORM PART OF TOTAL INCOME
As per Section 10(11) "any payment from a provident fund to which the Provident Funds Act, 1925 (19 of 1925), applies" do not form part of total income. So we can say that interest of PPF is exempt from Tax.
Regards
Rohit Gupta
RHT1203 @ GMAIL.COM
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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