Tax Deduction for Interest earned on PPF Account

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  1. Nitin wadhwa

    Nitin wadhwa New Member

    Whether the Interest earned on PPF allowed to be taken as saving or not?
    For e.g. Total saving for a year is 50000 and interest earned is Rs.4000 ,now these 4000 can be taken as saving or not?
     
  2. Yatin Gandhi

    Yatin Gandhi Active Member

    1. Interest earned on PPF Account is not considered as Interest on Savings Account
    2. Interest earned on PPF Account is considered as Income exempted from levy of any Income Tax. It is fully exempted from tax without any limit.
     
  3. Nitin wadhwa

    Nitin wadhwa New Member

    Can u please explain first point?
     
  4. V K Khanna

    V K Khanna Active Member

    Interest on saving account is taxable beyond the exemption limit laid down u/S 80TTA wheras the interest earned from PPF account is fully exempt from tax.

    Hence @Yatin Gandhi has rightly stated that interest earned on PPF account is not treated as saving account interest.
     
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