Go AD-Free with CAclubindia Pro and Daily Mobile Updates. Subscribe Now!

ppf interest

Karan Ahuja (6 Points)

04 August 2018

ppf interest is exempt under which section?

Reply
Follow
Share

9 Replies

RAJA P M ("Do the Right Thing...!!!") (128111 Points)
Replied 04 August 2018

Claim under section 80C...

1 Like

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (195885 Points)
Replied 04 August 2018

Section 10(11) - Any payment/interest received via the Statutory Provident Fund

2 Like

RAJA P M ("Do the Right Thing...!!!") (128111 Points)
Replied 04 August 2018

Yes... Exempt u/s 10(11). We can claim u/s 80C.

Ashwin Kumar (168 Points)
Replied 04 August 2018

upto 9.5% from ppf and rpf

1 Like

SHIRISH S S (Proprietor) (1080 Points)
Replied 04 August 2018

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

Shall i revise the return ?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (195885 Points)
Replied 04 August 2018

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

1 Like

SHIRISH S S (Proprietor) (1080 Points)
Replied 04 August 2018

Ok thanks sir.

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

SHIRISH S S (Proprietor) (1080 Points)
Replied 04 August 2018

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

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (195885 Points)
Replied 04 August 2018

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).

1 Like