HELLO FRIENDS, CAN ANYBODY TELL ME THE TREATMENT OF EPF WHAETHER IT IS DEDUCTIBLE U/S 80 C
PLS EXPLAIN ME. I SHALL BE VERY THANKFUL.
3 Replies
CA Sumit Arora
(CA)
(1411 Points)
Replied 08 March 2010
Dear Raj Kumar EPF is deductible u/s 80C of the income tax act 1961. Maximum limit is Rs. 100000
Bala
(Student)
(498 Points)
Replied 08 March 2010
Only employee contribution is entitled for Deduction u/s 80C. Employer's Contribution in excess of 12% of salary is taxable..Interest on EPF credited is exempt upto 9.5% of salary..
Deepak Tapse
(Accounts Manager - Taxation)
(1771 Points)
Replied 09 March 2010
EPF IS DEDUCTABLE U/S 80C (ONLY EMPLOYEES CONTRIBUTION)
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