Question ID :
39283
TAXABILITY OF PPF INTEREST
WHAT WILL BE THE TREATMENT OF INTEREST EARNED ON PPF.ACCORDING TO SEC 10(11) IT IS AN EXEMPT INCOME.SHALL WE INCLUDE THIS IN TOTAL INCOME AND THEN CLAIM EXEMPTION UNDER TABLE 7 OF ITR 1 ??
PLEASE SHARE YOUR VIEWS.
Posted by
SUDIP KUMAR MUKHOPADHYAY
on
Jul 12, 2019
Filed Under
DIRECT TAXES
PPF Interest should not be included in total income . You can report it only for reporting purpose after the table no 7
Posted by
CA. BISHT RAKESH on
Jul 12, 2019
Answer ID :
79024
Not to include in total income, but to report in Part C of form ITR-1 along side 'Exempt income' : For reporting purpose.
Posted by
B.CHACKRAPANI WARRIER on
Jul 12, 2019
Answer ID :
79028
VERY CLEAR. EXEMPT PPF INTEREST IS NOT TO BE INCLUDED IN TOTAL INCOME. IT IS SHOWN UNDER EXEMPT INCOME ONLY.
Posted by
m g ltd. on
Jul 12, 2019
Answer ID :
79029
Exempted incomes will not form part of total inocme, hence need not to include in totsl income. It can be shown in the exempt income table provided.
Posted by
CA PRADEEP C B on
Jul 12, 2019
Answer ID :
79044
Income exempt under section 10 do not form part of total income. Hence PPF interest cannot be added to total income.
Posted by
CA. chunauti dholakia on
Jul 17, 2019