AIS shows PPF interest as Source from other income

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Deal Cadet
vj24
AIS showing PPF interest as source from other income. As we know that PPF interest Is EEE. My CA is also telling it is taxable.Please help
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AIS information is for reference, there is no compulsion to file your returns exactly as per AIS

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Better to file as per AIS and claim proper exemptions under proper sections. It must be reported in ITR else a notice will be served even for small errors.
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Deal Subedar Deal Subedar
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PPF is one investment vehicle that falls under the Exempt-Exempt-Exempt (EEE) category. This, in other words, means that all deposits made in the PPF are deductible under Section 80C of the Income Tax Act. However, it should be noted that the maximum contribution in PPF cannot exceed Rs.1.5 lakh in one financial year. Furthermore, the accumulated amount and interest is also exempt from tax at the time of withdrawal. It is important to note that a PPF account cannot be closed before maturity.
Deal Cadet Deal Cadet
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What are the rules for the premature withdraw

Finance Mentor Finance Mentor
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Interest is taxable only in case of Epf or vpf exceeding a certain amount not for ppf.

AIS is not 100% correct. It's messed up. In my case, it shows dividend income of 15L - just 14.5 lakhs more than what I received/ companies paid. 

Wait for around 2 weeks more, maybe they change the ais status logs. 

In the meantime, look for another CA. 

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AIS is not 100% correct. It's messed up. In my case, it shows dividend
income of 15L - just 14.5 lakhs more than what I received/ companies
paid.

------ Seriously ?? It cant be such huge difference. 
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Benevolent Benevolent
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Weird a CA telling that, its definitely EEE

Deal Cadet Deal Cadet
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I am telling him it is not taxable he is telling on certain cases I told him it's EEE

Hunk Hunk
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If your CA is telling you PPF interest is taxable, maybe time to switch to a new CA

Deal Cadet Deal Cadet
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My PPF interest is showing as income from other sources

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Deal Cadet Deal Cadet
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My ais doesn't show ppf interest entry.

Deal Cadet Deal Cadet
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It is bcoz it is exempted from check if ur pan is linked it should be show however it is exempted
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Benevolent Benevolent
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can you add a screenshot where it is written PPF? have you verified the account number mentioned there ?

Deal Cadet Deal Cadet
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It is showing as PPF account but showing as other but account number is PPF

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Deal Cadet Deal Cadet
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What about the divided income? Can we take the rebate on a divided income?

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@vj24 - Can you share your SS of the AIS. You can Mask pvt things and share the ppf part. I think there is some mistake. 

Finance Mentor Finance Mentor
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Yeah, till the time he is referring to EPF/VPF interest.
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Check your ais properly and if possible share here .

For me they charged tax on recurring deposit and on redemption of kisan vikas Patra. IMG20230706031332

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KVP ISNT tax free. It is completely taxable in your normal tax slabs.

Shift to better tax instruments like ELSS / ppf  based on your risk profile.
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Deal Lieutenant Deal Lieutenant
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edited as AIS was correct

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Have u reced form 16A from bank ?? Doesnt it match with AIS ?
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