Exemption of interest on pf on retirement put in fd
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 October 2015
I am a senior Citizen,retired in 2014 as an officer of a PSU. Out of the Terminal benefits, I kept PF Amount in a Nationalised Bank in FD, as I was informed that the Interest of PF proceeds on retirement is exempted from Tax Liability/TDS, if kept in FD. Kindly clarify as the FD is maturing in this FY and no response from Bank for this issue.
Thanking You
Thanking You
31 October 2015
It is fully taxable as per income tax slab rates as per the determination of total income.
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