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Ppf interest, dividend etc needs to be shown in itr 1 sahaj?

sk_1122 (NA) (134 Points)

08 June 2013

I am filing the e return for AY 13-14 for myself now.

Do I need to show (just for information only as these are exempt income) PPF interest and dividend income anywhere in this form?

Plz help.

Also - As I understood from reading other sources that the new section for savings account interest rebate upto 10,000 is 80TTA. Correct me if I am wrong.

Waiting to submit the return. Will submit after these doubts are cleared.

One more question - I got a preventive health check up done for rs 2700. it should add up in section 80d with my medical insurance premium deducted by employer right? I had submitted tax proof to employer before getting the health checkup done. so this proof was not submitted anywhere. I have the reciepts with me. do I need to submit this anywhere if I claim deduction?

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8 Replies

sk_1122 (NA) (134 Points)
Replied 08 June 2013

Plz someone help. Waiting for these doubts to be clarified

sk_1122 (NA) (134 Points)
Replied 09 June 2013

plz someone help

Sindhuja (Final Student) (113 Points)
Replied 10 June 2013

Though the income is exempt, you must provide information regarding such income in the return.

The section is 80TTA & you can claim either the interest or 10000 whichever is less.

you need not submit the receipt anywhere, while filing your ITR.

Amar (selfemployed) (106 Points)
Replied 15 June 2013

If you have Exempt income (In the form of Dividend, Intt from PPF etc.) of more than 5,000/- in aggregate, you are not eligible for ITR-1(Sahaj). Please go for ITR-2

For obtaining relief for Interest on Savings Account (Maximum Rs.10,000/-) u/s 80 TTA, you have to first add this interest in your total Income and then claim a rebate under Chapter VI-A, along with rebate u/s 80C and 80D

J S BHAVSAR (CONSULTING) (1288 Points)
Replied 20 July 2013

Are we sure that PPF interest that was credited in PPF account needs to be reported? There is varied opinion regarding this on other sites.

I am trying to locate a CBDT circular where they spell out what will constitute as Exempt Income and if PPF interest and EPF interest will play a role in it.

J S BHAVSAR (CONSULTING) (1288 Points)
Replied 23 July 2013

There is no place to show "Exempt Income" on ITR-1 SAHAJ. It has been assumed that any exempt income is less than Rs 5000, then only the individual will fill the ITR-1 SAHAJ else proceed towards ITR-2. What constitutes the definition of "Exempt Income", what is included and what not is not clear.