Income from salary
SUNDARAM.V.V (ACCOUNTS) (60 Points)
17 May 2017
Tax treatment of employees contribution to provident fund. Isn't taxable under head salaries?
3 Replies
CA Rashmi Gandhi
(Chartered Accountant)
(86461 Points)
Replied 17 May 2017
No it is not taxable under head salary however deduction u/s 80C can be claimed
MBN
(CA Job)
(71 Points)
Replied 17 May 2017
Employees contribution to PF is not taxable separately as it is a part of Gross Salary.
PRABIR PAUL
(*****Accountant***** Never insult to any person for any kind of lack of knowledge or misread.)
(1448 Points)
Replied 18 May 2017
We all know that employee's pf contribution is not the part of Income.
But I couldn't understand one thing if employee's contribution is not income then why it's need to deduct TDS in the time of pf withdrawl (5yrs//above Rs.50,000)???
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