PPF Interest And Exempted Income Disclosure

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  1. Lush

    Lush New Member

    I submitted my IT return for this FY yesterday. While going through the articles in this site, I now find that PPF interest was to be added in exempt income in ITR I.
    Dear Sir, I had 17000 PPF interest for last FY, but its only 7th year, so the amount is not withdrawable. So do I need to REVISE my return only to add EXEMPTED income from PPF interest or was it ok to leave that field blank. (For last 5 years, I never showed any exempted income)
     
  2. V K Khanna

    V K Khanna Active Member

    There is no need to revise the return. You can show the interest income on PPF as exempt income either on accrual basis or on maturity of the PPF account.
     
    ZED likes this.
  3. atanu chatterjee

    atanu chatterjee New Member

    The basic idea is not to evade taxes and not to keep genuine incomes undisclosed ,thus inviting troubles in the later years. Dont be too obsessive Mr. Lush.
     
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