We are senior citizens. I am now retired.while in service I have contributed to my ppf act And also to wife,s ppf act .Both combined is within 80 C limit. My wife is only house wife. Now my ppf act is matured. She has deposited hef ppf amt in SCSS act. Is This interest on her SCSS act is taxable in my hands or in my wife .she is not an assessee so far. Kindly clarify

I am a retired govt. servant and get pension. Also I get Interest from Deposits, Saving and Acc. Int. I show this income in my Income Tax returns filed in Form ITR-1 SAHAJ. During the current Financial Year I have received the maturity amount of my PPF maintained in the Post Office. Out of the amount received I have a certain amount given as a gift to my spouse. She has invested the said amount received by her from me as a gift in the SCSS A/C and gets interest on that amount. I want to know whether the amount she receives as interest from the amount given by me is to be included in my income and to be shown in the Income Tax Return. If so, at what place i.e. in which column? I have to show the income so included as I do not see such places or column. In which I have to indicate this amount Sr. No. B3 Income from Other Sources along with the Interest received by me from Deposit etc. Since the amount of interest received by my spouse is included in my Income, Whether the said amount is also to be shown in her Income Tax Return or otherwise? As if it is to be shown in her return also then there will be duplication. This clarification is sought as I file my return myself and since the notice I or my wife may not get. I hope you will kindly guide me in this regard and oblige us. Thank you in advance.

Hello Sir, My father had nominated me and my wife as 50% each in his PPF account. After the death of my father 50% of the closer amount of PPF was transferred to my wife account. The question is the amount transferred to my wife is taxable to my wife and second question the profit she has received after investing this money will it be clubbed to my fathers income ( as i need to file the IT return of my father as legal heir representative) or my wife will pay the tax on the profit.

Sir.while in service I invested partly in my ppf and my wife ppf. Both combined is within 80 C limit.declared in Iitr. i am now retired .my wife ppf now matured. reinvested wife ppf proceeds jn SCSS In wife name. This interest from SCSS is taxable in whose hands