deposits in public provident fund is eligible for deduction u/s 80c.
what about the interest earned on PPF A/C . is it taxable?I
whether balance (deposit +interest) ,or
only deposit amount
is to be shown on assets side under head investments .
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public provident fund
Replies (3)
Interest is exempt u/s 10 (11)
Balance (deposit+interest) is to be shown under investments as interest is reinvested
Balance (deposit+interest) is to be shown under investments as interest is reinvested
thank you.
in RPF exempt upto 12%
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