What is the position of taxability of PPF interest for the assessment year 2017-18?
8 Replies
Suresh Pai S
(Tax Consultant)
(1029 Points)
Replied 22 July 2017
I am asking about the interest credited to PPF A/c.
Suresh Pai S
(Tax Consultant)
(1029 Points)
Replied 22 July 2017
Sir.Jaitley was planning to Tax the same isn't it?
Suresh Pai S
(Tax Consultant)
(1029 Points)
Replied 22 July 2017
Sir.I have another doubt. What is the meaning of wef in IT Act? There is an insertion in the 80GG in the finance act 2016 telling that 5000 has been substituted by 2000 wef from 1.4.2017. Does it refer to financial year or assessment year.?
sashi nair
(business)
(44 Points)
Replied 22 July 2017
The law is in effect from that declared date. Where does the question of FY and AY arise ?
Suresh Pai S
(Tax Consultant)
(1029 Points)
Replied 22 July 2017
Suppose a belated return for the AY 2016-17 is filed on 2.4.17. He can claim 80GG deduction of Rs 5000 pm. correct or incorrect?
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