Interest on Recognised Provident Fund
This query is : Resolved
30 October 2007
Interest on recognised provident fund was exempt earlier to the extent of 9.5%. It has now been changed to 8.5%. I would like to kmow this change would be applicable from which previous year/assessment year ?
31 October 2007
Dear lakshmi..
The government decided to maintain 8.5 percent interest rate for the 40 million subscribers of the employees' provident fund (EPF) scheme for 2006-07.IT THE PRIVIOUS YEAR RELEVENT TO ASSESSMENT YEAR 2007-08.
'The central government has notified 8.5 percent rate of interest for the year 2006-07,' Central Provident Fund Commissioner A. Viswanathan told THAT The fund's trustees had also recommended the same interest rate.
The government decided to maintain 8.5 percent interest rate for the 40 million subscribers of the employees' provident fund (EPF) scheme for 2006-07.IT THE PRIVIOUS YEAR RELEVENT TO ASSESSMENT YEAR 2007-08.
'The central government has notified 8.5 percent rate of interest for the year 2006-07,' Central Provident Fund Commissioner A. Viswanathan told THAT The fund's trustees had also recommended the same interest rate.
sannagovindappa.G
(Expert)
02 November 2007
Aseesment year 2006-07 and 2008-09
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