Suppose I earned an interest of Rs. 1000/- on my savings in a PPF account on 31 Mar 2011, can I claim rebate on this interest component too while filing the Income Tax return. Regards RAhul
02 March 2011
Sir thank you very much for the reply. Can you please help in one more thing? My child (5yrs old) is studying in a school and my wife is claiming deduction of tution fee. However, he is also going in a private day care center from where we are getting receipts. Can the same is elligible for deduction in any section.
In order to avail Sec 80C Deduction, you may explore the possibility of withdrawing from out of accumulated balance and invest the same as "fresh" deposit in PPF account.
For withdrawal rules, the following link may be viewed: http://www.welcome-nri.com/info/project/PPF_Rules.htm
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