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PPF INTEREST

Tax planning 292 views 9 replies
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TAX ADVISER
80 Points Posted on 05 January 2021

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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On 05 January 2021 at 12:02 Report
Replies (9)
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Chartered Accountant
24588 Points Posted on 05 January 2021
Ppf interest is exempt upto 150000 rupees
senior citizens interest is exempt upto 50000 rupees
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On 05 January 2021 at 12:26
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Consultant
1891 Points Posted on 05 January 2021

Both are exempt. 

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On 05 January 2021 at 12:35
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Tax consultant
5895 Points Posted on 05 January 2021
In new tax scheme ppf interest will be exempted
but no Deduction allowed for PPF and no Deduction to senior citizen under 80TTB
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On 05 January 2021 at 14:52
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STUDENT
1631 Points Posted on 05 January 2021
New scheme , exempt
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On 05 January 2021 at 21:59
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17264 Points Posted on 07 January 2021
PPF interest exempt
senior citizens interest from bank taxable under new scheme.

you have to select scheme old or new wisely.
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On 07 January 2021 at 15:33
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Consultant
1891 Points Posted on 07 January 2021

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

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On 07 January 2021 at 16:51
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Accountant
4533 Points Posted on 08 January 2021
Under section 80ttb interest from Bank deposit up to 50000 can be claimed as deduction.
in case of public provident fund interest is exempted
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On 08 January 2021 at 01:07
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17264 Points Posted on 10 January 2021
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/-
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On 10 January 2021 at 12:36
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BUSINESS DEVELOPMENT MANAGER
1697 Points Posted on 10 March 2021

Both are exempted. Sometimes it depends on the scheme selection

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On 10 March 2021 at 11:11


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