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NSC & PPF Interest In ITR

NITIN SABOO (344 Points)

05 July 2018

Plz suggest Where to Show PPF & NSC interest in ITR for AY 2018-19

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5 Replies

CA Naveen Chand (Chartered Accountant) (12729 Points)
Replied 05 July 2018

under other income

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Jeeva Thangavelu (Student CA Final ) (609 Points)
Replied 05 July 2018

The interest from PPF is tax free hence need not be shown under Income from Other source. Its to be reported under Exempt Income under Others coloumn.

Interest from NSC is taxable. The amount is to be clubbed with all other income from other source like SB interest, FD interest, etc. and shown as single figure in B3 box.

Jeeva Thangavelu (Student CA Final ) (609 Points)
Replied 05 July 2018

Also Interest from NSC is generally accrued and reinvested in NSC again. So the amount so offered as income can be claimed as deduction under 80C.

CA Naveen Chand (Chartered Accountant) (12729 Points)
Replied 05 July 2018

ya agreed !!

but the interest on nsc can be claim this as a deduction under Section 80C.

priyankagupta (article) (361 Points)
Replied 05 July 2018

Interest of ppf is exempt. But show this intt. In bottom side in ios in exemt intt. Column. Then this amount can be seen in ur return as exempt income.