If any one have earned Interest income of PPF of more than Rs. 5000/- which is exempt from Income Tax & subsequently filled ITR 1 then wheather it is mandatorily need to file a revised return in ITR 2 since there is no option to show exempt interest income in ITR - 1 ??
Menu
Itr 1 or itr 2
Replies (5)
There is an option to show exempt income in ITR-1, u can show in that.
You have to File ITR-2 if your exempt income is more than 5000/-
Agree with Mr. Anurag
Yes, if exempt income is above 5,000/- u have to file ITR-2. U need to revise the return.
PPF interest is just getting added to your account and you cannot withdraw for at least first 6 years. So is it required to declare this interest on accrual basis or you can show it only if any amount is withdrawn?
IMO, if it is not mandatory to be shown, then ITR1 could be the right form to be filled up.
Thanks,
-Vaibhav
Recent Topics :
- ITC availed on 5%-rate passenger transport (AC bus
- Extension of Due Date of AY 2026-27
- FAST DS 2026
- Does AIS GST Purchase aggregate GSTR-2B expenses?
- Form 26A - System has encountered some technical p
- Tool to convert GST invoice PDFs into Excel —
- Revised or rectification or leave it?
- Private limited tax audit
- LTCG - SEC54
- Foreign remittance from our client for Co Working
Related Topics :
CAclubindia
