ITR 1 and EPF and PPF Interest

This question specific to ITR 1

- Earlier I asked the question related to Bank Accounts section in Part E and I assume that it is only Saving accounts. 

- Does that it needs to mention PPF account as well ? 

- Also two years back EPF related rules change. If EPF contribution of Employee is 1,00,000. Does it needs to mention in ITR 1 (its interest).

- Do we need to mention PPF interest in ITR ? If yes then in which section. 

Replies (6)
Quick Summary
This discussion clarifies how to report EPF and PPF interest when filing ITR 1. It explains that PPF accounts don't need to be listed, but PPF interest is reportable under Schedule EI (Section 10(11)) as it's tax-exempt. For EPF, interest becomes taxable if the employee's contribution exceeds £2.5 lakh, and this taxable interest should be declared under Schedule EI.

1. Correct, no need to mention PPF account.

2. Interest taxable in case contribution of employee is more than 2.5 lakhs.

3. Schedule EI.

Thanks for response. 

Is Schedule EI and Section 10 is same ? 

if I assume it is same then Section 10(11) or Section 10(12) for PPF interest. 

Section 10 have some deduction that employer provide. 

Because if it is section 10 , it may finally cut from total gross amount. In that case do we need to include PPF interest in income from other sources ? 

Sec. 10 provides all the exempted incomes under different sub sections. The same is declared in ITR in Schedule EI.

Choose applicable subsections and declare them in ITR.

PPF interest is exempted from tax.

ITR 1 EPF INTEREST

As PPF interest is only for reporting purpose, Can it be put in Any other with desctiption PPF interest ? 

Yes, under sec. 10(11) IT act. 

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