Deductions under Schedule EI

ITR 1123 views 2 replies

Vikrant

88 Points Posted on 04 August 2025

Hi,

I have question related to Schedule EI in ITR2, what all deductions are allowed to be added here under Interest Income head?

Should I add 10000 interest in savings bank account heer? earlier there used to be 80TTA now is it removed?
PF interest (If Interest seen in (View Taxable data on epfo site) is 238184, out of which 236897 is non-taxable and 1287 is taxable, what amount should I enter in schedule EI and what to do with the 1287 taxable income? do I need to enter anywhere else? or do I need to add values shown in Int. Updated on 31.03.2025 both values under Employee share and Employer share?
PPf Interest
Sukanya interest

Replies (2)

Rama chary Rachakonda

Master in Accounts & high court Advocate

9615 Points Posted on 05 August 2025

You should report the interest from your savings bank account in Schedule EI if it exceeds the exemption limit under Section 80TTA or SEction 80TTB for senior citizens.

For PF interest, report the taxable amount Rs.1,287 in Schedule EI. The non-taxable amount of Rs.2,36,897 is exempt and not required to be reported.

PPF and Sukanya interest are exempt from tax and do not need to be reported in Schedule EI.

Vikrant

88 Points Posted on 06 August 2025

Thanks for your response. However since I have selected new regime 80TTA under Scheule V1-A is disabled for me. Am I correct here?

Also from the PF statement I can see 2 entries of Interest in Employee Balance and Employer Balance, should I club the sum of both interest and put it in the Column"Interest Income"