Deduction of investments out of exempt income

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KUVADIYA PIYUSH (Querist)
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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?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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26 March 2017 Yes allowable because investment u/s.80C need not be out of taxable income.

KUVADIYA PIYUSH

KUVADIYA PIYUSH (Querist)
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28 March 2017 thank you , sir

Dhirajlal Rambhia

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

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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25 October 2021 I stand corrected, if the query is not edited subsequne to my answer.

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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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....

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