POSTED BY July 16, 2013 10:57 am COMMENTS (15)ON
PPF interest received during the financial year is tax free. However, some forums on wealth18.com confirm that tax-free PPF interest needs to be declared in ITR-2 form if the same is above Rs 5000.
Is this true? Why would some tax collection agency want to know tax-free PPF interest you receive every year? What clue do they get from that interest? Better they take the PPF balance every year than knowing the interest.
If yes for declaring such interest, where to declare PPF interest on ITR-2?