ppf interest

244 views 9 replies
ppf interest is exempt under which section?
Replies (9)
Claim under section 80C...
  • Section 10(11) - Any payment/interest received via the Statutory Provident Fund
Yes... Exempt u/s 10(11). We can claim u/s 80C.
upto 9.5% from ppf and rpf

Rambhia sir I took PPF/VPF/EPF  interest u/s 10(15) for  my wife. AND ppf FOR MYSELF

Shall i revise the return ?

No need....... let query be raised (not likely to be)

Ok thanks sir. 

Also dividend from UTI mutual fund  took in 10(34)  instead of 10(23)
I will wait for assesment

In ITR-4 and ITR-1  excel sheets -10(11)  it is wiitten any statuory Fund received. So I took in interest. 

Section   10(34)/10(35) is about exempt on income by way of dividend or any amount received   from a securitisation trust.

    So following incomes will not be chargeable to tax:

    • Any income by way of dividends (on which domestic companies have paid dividend   distribution tax u/s 115-O)
    • Any income in respect of units of a mutual fund;
    • Income received by a unit holder of UTI;
    • Income in respect of units of a specified company.
    • Income on account of buyback of shares by a company
    • Income received from a securitisation trust

 

So, dividend received by unit holders of MF is exempt u/s. 10(35).


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register