Easy Office
LCI Learning

Deduction of investments out of exempt income

This query is : Resolved 

26 March 2017 Hello, My query is that if an individual ,who is receiving interest on investment in public provident fund (PPF) , invests the interest in the PPF then whether deduction of such an investment will be allowable u/s 80C?

26 March 2017 Yes allowable because investment u/s.80C need not be out of taxable income.

28 March 2017 thank you , sir




24 October 2021 PPF interest is already accrued to account, it is not considered as fresh investment for 80C deduction.

25 October 2021 I stand corrected, if the query is not edited subsequne to my answer.

25 October 2021 Yes. Edition to the query after reply cannot be ruled out. That creates wrong impression to future google surfer having similar query. My intention was to give correct picture for such knowledge seeker. Good wishes....



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries