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

ITR 15093 views 8 replies

sk_1122

159 Points Joined January 2011

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?

Replies (8)

sk_1122

159 Points Joined January 2011

Plz someone help. Waiting for these doubts to be clarified

sk_1122

159 Points Joined January 2011

plz someone help

Sindhuja

Final Student

113 Points Joined November 2010

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.

Amarjeet Kaur

self employed

108 Points Joined July 2011

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

1320 Points Joined April 2008

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

1320 Points Joined April 2008

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.