Pls clarify contribution to EPF more than 250000 p.a.then interest will be taxable.
Or interest on employee contribution to EPF if exceeds Rs 250000 p.a.will be taxable.
Which one is correct?
In order to rationalise tax exemption for the income earned by high income employees, it is proposed to restrict tax exemption for the interest income earned on the employees’ contribution to various provident funds to the annual contribution of ₹2.5 lakh," says the budget document.- inter st earn d on the 250000 is not tax exempt as proposed
CAclubindia
