Tax exemption on interest received on PPF account

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  1. ARVIND WAZE

    ARVIND WAZE New Member

    Interest on PPF account was shown as income in FY 2016-17 (AY 2017-18) and tax was paid accordingly. How can I claim tax exemption on interest on PPF account for FY 2016-17 & FY 2017-18? Under which section
     
  2. Naveen Chand

    Naveen Chand Member

    @arvind.waze

    The tax benefit is capped at Rs 1.5 lacs per financial year. ... PPF falls under EEE (Exempt,Exempt,Exempt) tax basket. Contribution to PPF account is eligible for tax benefit under Section 80C of the Income Tax Act. Interest earned is exempt from income tax and maturity proceeds are also exempt from tax.

     
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