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VINAYAK D PRABHU

VINAYAK D PRABHU (Querist)
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04 March 2009 WHETHER MATURITY PROCEEDS FROM PUBLIC PROVIDENT FUND IS TAXABLE UNDER INCOME TAX ACT, 1961.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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04 March 2009 Anu sum received from PPF scheme,1968 is exempt u/s 10(11) of the Income tax Act,1961.

VINAYAK D PRABHU

VINAYAK D PRABHU (Querist)
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04 March 2009 Thank you Sir,
I would like to know further regarding this, because u/s 10(11) of the Income Tax ACt, 1961, it is mentioned that any payments.
Could you please explain to me further in this regard...

VINAYAK D PRABHU

VINAYAK D PRABHU (Querist)
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04 March 2009 Sir, could you please explain further in this regard....

CA Tirth Ajani

CA Tirth Ajani (Expert)
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04 March 2009 under ppf deduction under section 80 C is available and when on maturity the lump sum amount is received is exempt from tax and also the interest credit to the provident fund too is exempt at the time of receipt.

any paymnet means interest credit as well as the payment made towards the provident fund under section 80C is exempt.