Categories
Pagination Scroll
Prasanna

Exempt Statutory PF interest u/s 10 (11)...
Hi Amlan,
Should we disclose Interest amount Accrued in PPF account of SBI Bank under any section of exempt Income Reporting purpose. Interest of Rs 20000 has been accrued in my PPF acount for the FY 2017-2018.
  • Show Placeholder
  • Hide Discussion
Amlan Dutta
Public providend fund is statutory PF ...so , you will show exempt interest from public providend Fund under exempt income reporting section under exempt section 10(11) ...

Under answer options, click on video for relevant videos for this question category.
  • July 17, 2018
  • ·
  • Like
  • ·
  • Select as Answer
Preet Gill

Exempt Statutory PF interest u/s 10 (11)...
For interest on PPF from SBI bank --> I checked your video and understand that I need to show it under exempt income as 10 (11) but do I also need to show it under income ? For example income from other sources ? or do not show under income and only show under exempt income ?
  • Show Placeholder
  • Hide Discussion
Amlan Dutta
If you show PF interest under other sources , it will become taxable and no longer remain exempt ...understand concept of what exempt i.e non taxable means ...f you have 100 Rs FD interest , 100 Rs savng interest , 100 Rs PF interest, then Both fd and saving interest is taxable and to be shown under...
  • July 15, 2018
  • ·
  • Like
  • ·
  • Select as Answer
Alex Dcosta

Exempt Statutory PF interest u/s 10 (11)...
Sir I am confused between Statutory PF and recognized PF, Actually It is Interest given by my Bank on Public Provident Fund, so what should I select as I am not Clear about it.
Thanks Sir
  • Show Placeholder
  • Hide Discussion
Amlan Dutta
Bank PPF are statutory in nature , you can show exempt PF interest under section 10(11)....please watch my tutorials since it will be tough for me to always keep answering basic queries
  • July 4, 2018
  • ·
  • Like
  • ·
  • Select as Answer