Saurabh Jain
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RE: Treatment of lumpsum received from India Public Provident Fund (PPF)
Dear Team, Thank you so very much for coming back to me on this. Can you please confirm that I can treat lumpsum received from Indian Public Provident Fund as an overseas pension and not treat it as savings/interest on savings? Thanks & Regards -
Treatment of lumpsum received from India Public Provident Fund (PPF)
Dear Team, I wish to know how to calculate gains for lumpsum received from Indian Public Provident Fund for the purpose of reporting it in offshore income/gains. Is it treated as pension and can I therefore deduct 1. the value as of 5th April 2017 from the total 2. Deduct an additional 25% from the remaining amount from point 1 above as tax free lumpsum. And report the remaining 75% balance as gain? Kindly advise. Thanks