Pension from Employess Provident Fund Exempt?

This query is : Resolved

nikunj (Querist)
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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.

CA CS CIMA Prakash Somani

CA CS CIMA Prakash Somani (Expert)
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30 July 2008 "Family Pension" will be taxable under the head, Income from Other Sources.

CA N RAJA

CA N RAJA (Expert)
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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.

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