Pension from Employess Provident Fund Exempt?
This query is : Resolved
29 July 2008
While the pension received from the employer is taxable, is it true that the pension received from EPF is exempt? Please guide.
30 July 2008
"Family Pension" will be taxable under the head, Income from Other Sources.
02 August 2008
1. The accumulated balance due and becoming payable to
an employee participating in Recognised Providend Fund
shall be exempt as prescribed in Rule 8 of Part A of the
Fourth Schedule.
2. Employee's contribution is eligible for deduciton
under Section 80C.
3. Amount received on retirement is fully exempt u/s
10(12)
4. Interest credited in excess of 8.5% is taxable as salary.
an employee participating in Recognised Providend Fund
shall be exempt as prescribed in Rule 8 of Part A of the
Fourth Schedule.
2. Employee's contribution is eligible for deduciton
under Section 80C.
3. Amount received on retirement is fully exempt u/s
10(12)
4. Interest credited in excess of 8.5% is taxable as salary.
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