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ppf

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(Querist)
21 January 2010 Hi friends... can u tell me that how withrawal from ppf can be shown in return?? means under which head...
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CA Kamal Gangaramani

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CA Kamal Gangaramani (Expert)
21 January 2010 Withdrawals from PPF is excluded from total income, hence it is not shown under any head of income tax, you have to make a statement of income excluded from total income after you have made statment of computaiton of income tax

In return also there is coloum to show excluded income
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
21 January 2010 When you pay PPF then deduction is claimed u/s 80C and when interest accrues on PPF the same is shown in the exempt income column under the head interest.

However there is no provision to show withdrawl of PPF as yet in the return.
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CA Kamal Gangaramani

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CA Kamal Gangaramani (Expert)
21 January 2010 You can show withdrawals, the same coloum where you show exempted income.
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Chandresh Pitroda

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Chandresh Pitroda (Expert)
23 January 2010 Not to show. Its not required to show Withdrawal as such. It will be effective when proposed Direct TAx code will be applicable.
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