FY 2021-21 INCOME TAX NEW SCHEME FOLLOWING INCOME EXEMPTED OR NOT
1. PPF INTEREST
2. SENIOR CITIZEN INTEREST UPTO 50000.00
9 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 05 January 2021
Ppf interest is exempt upto 150000 rupees
senior citizens interest is exempt upto 50000 rupees
senior citizens interest is exempt upto 50000 rupees
ayusmita
(Tax consultant)
(5890 Points)
Replied 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
but no Deduction allowed for PPF and no Deduction to senior citizen under 80TTB
Kapadia Pravin
(17264 Points)
Replied 07 January 2021
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.
Spurto Consultancy Services
(Consultant)
(1891 Points)
Replied 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
Krishna Chaudhary
(Accountant)
(4531 Points)
Replied 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
in case of public provident fund interest is exempted
Kapadia Pravin
(17264 Points)
Replied 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/-
debora M
(BUSINESS DEVELOPMENT MANAGER)
(1697 Points)
Replied 10 March 2021
Both are exempted. Sometimes it depends on the scheme selection
Recent Topics
- Rebate 87A not getting
- Income Tax Rectification-TDS not claimed in ITR
- Gst Amendment HSN summary
- Unable to get some value eligible for claim in old
- Tax payment adjustment
- Accounting in Fintech companies
- Section 80DD Deduction Filing Error
- Which Form I have to fill - ITR1 or ITR2
- INTEREST EARNING IN USD AND JPY FCNR REPORTING IN
- ONLING FILLING ITR2 FOR PENSIONOR
Related Threads
Trending Online Classes
CAclubindia
