Ppf
This query is : Resolved
08 July 2014
1) Interest on PPF
2) Amount contributed by self to PPF Account
please tell me under which section both are exempted ?
2) Amount contributed by self to PPF Account
please tell me under which section both are exempted ?
08 July 2014
EXEMPTION U/S 10(11) Any Payments received from a provident fund to which provident fund act applies Or from PPF set up by central govt. is exempt from tax.
08 July 2014
Exempted u/s 10(11) of the Income Tax Act 1961.
08 July 2014
u/s 10 it is exempt the intt on PPF.
08 July 2014
INTEREST ON PPF EXEMPTED U/S 10 IS OK...
BUT AMOUNT DEPOSITED/CONTRIBUTED TO PPF A/C,
DEDUCTION UNDER WHICH SECTION?
BUT AMOUNT DEPOSITED/CONTRIBUTED TO PPF A/C,
DEDUCTION UNDER WHICH SECTION?
08 July 2014
Dear such amount deposited is your investment not your income. So question of exemption does not arise.
08 July 2014
Dear CMA. CS.SANAJY JEE...PLEASE FOLLOW THE BELOW MENTION PATH ON GOOGLE..
https://taxguru.in/income-tax/all-about-deduction-under-section-80c-and-tax-planning.html
https://taxguru.in/income-tax/all-about-deduction-under-section-80c-and-tax-planning.html
08 July 2014
Yes Manoj Ji Deduction for investment in PPF is available u/s 80C. I thought you were asking about amount invested in PPF received on maturity.
It is a well known fact that investment in PPF is eligible for deduction u/s 80 subject to a maximum of Rs 1 lac.
It is a well known fact that investment in PPF is eligible for deduction u/s 80 subject to a maximum of Rs 1 lac.
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