Ppf interest
This query is : Resolved
CA Abhishek Jain
(Querist)
21 August 2019
I have not shown ppf interest in earlier it returns
My ppf is matured in financial year 2019-20
Yet to file 2018-2019 return
My ppf is matured in financial year 2019-20
Yet to file 2018-2019 return
Gokul Sharma
(Expert)
22 August 2019
PPF INT INCOME IS EXEMPT INCOME AND MATURITY ALSO NOT TAXABLE.
DONT WORRY
DONT WORRY
22 August 2019
Yes. PPF interest and maturity proceeds are exempt. You need to show it in ITR under Exempt Income which is just a disclosure requirement.
22 August 2019
PPF falls under EEE (Exempt,Exempt,Exempt) tax basket. Contribution to PPF account is eligible for tax benefit under Section 80C of the Income Tax Act. Interest earned is exempt from income tax and maturity proceeds are also exempt from tax.
CA Mayur Todmal
(Expert)
22 August 2019
@CMA CS Sanjay Gupta : great to see you after a long time
CA Abhishek Jain
(Querist)
22 August 2019
As PPF Is matured
So can i show full maturity amount as exempt income i.e. principal+ interest
So can i show full maturity amount as exempt income i.e. principal+ interest
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