I had opened a Sukanya Samridhi Yojana A/c for my daughter. I normally pay the contributions. I assume that would make me liable to report the interest income earned from that. Please correct me if that's not the case.
If I am expected to report the interest earned, which ITR form should I use? Is it dependent on if the interest earned is less than Rs.5000 or not? Which section should I enter it in ITR-1 and ITR-2 ?
Thanks in advance for any responses.
Thank you for the response.
Didn't know that interest from SSY is a taxable income. Have you come across any official notification that mentions that the interest from SSY is taxable? Any further info on it will be helpful. Thanks.
Hi Bijo, as per my understanding it is other way around. Any income is taxable unless it is exempt. But please double check. Maybe you can put the question again on forum. The link I pasted was from a site dedicated to the SSY, though I expect it to be correct, but can't verify the authenticity.
Thanks Neeraj for the clarifications.
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