FY 2021-21 INCOME TAX NEW SCHEME FOLLOWING INCOME EXEMPTED OR NOT
1. PPF INTEREST
2. SENIOR CITIZEN INTEREST UPTO 50000.00
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PPF INTEREST
Replies (9)
Quick Summary
Ppf interest is exempt upto 150000 rupees
senior citizens interest is exempt upto 50000 rupees
senior citizens interest is exempt upto 50000 rupees
Both are exempt.
In new tax scheme ppf interest will be exempted
but no Deduction allowed for PPF and no Deduction to senior citizen under 80TTB
but no Deduction allowed for PPF and no Deduction to senior citizen under 80TTB
New scheme , exempt
PPF interest exempt
senior citizens interest from bank taxable under new scheme.
you have to select scheme old or new wisely.
senior citizens interest from bank taxable under new scheme.
you have to select scheme old or new wisely.
Want to correct our answer. PPFA interest will be exempt u/s 10 ut deduction u/s 80TTA/B will not be allowed under new scheme
Under section 80ttb interest from Bank deposit up to 50000 can be claimed as deduction.
in case of public provident fund interest is exempted
in case of public provident fund interest is exempted
The query is for taxing under new scheme of tax rates. And under new scheme bank interest by Senior citizen 80TTB wala is taxable (old scheme it's deductible upto 50000/-
Both are exempted. Sometimes it depends on the scheme selection
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