POSTED BY February 25, 2014 10:00 am COMMENTS (3)ON
I recently invested Rs 1 Lakh in PPF and as per calculator provided by you i will be getting Rs 5800 as interest on 31st March 2014. Since I have used only ITR1 till now, I read somewhere if the interest is more than 5k we need to fill ITR 2, Pls throw some light on this. More over such tax free interests are accruing in my EPF account also how to show this while filing returns.
Pls share some link so as to understand the difference between ITR1 and ITR2 and step by step procedure to fill the same.
One more thing, My 80C have been exhausted by EPF and will be investing additional 1 lac per year in PPF. rest of the money is lying in Bank FDs @9 %. Pls suggest some more safe instruments but higher interest yielding than FDs. I dont want to lose my hard earned money so pls share some options which involve minimal risks.