doubt 1: Interest on RPF is amended from 1st Sep 2010 is 9.5% to 8.5% but in Singaniya book in their solutions to some salary problems they are taking 9.5% is it Right?
8 Replies
CA PARAS BAFNA
(Practising CA )
(33428 Points)
Replied 09 February 2011
Please check the date-month of publication of book.
We have to keep aware ourselves about the latest changes in the statute.
suresh
(student)
(48 Points)
Replied 11 February 2011
But tell me why 9.5% it is ameded to 8.5% from Sep 1st 2010 why we should take 9.5% for exam may 2011?
Manoj BG
(Tax Professional and in Service)
(1795 Points)
Replied 11 February 2011
Definately, we have to consider as 8.5% whether for practical or for exams..
Thanks and Regards,
Manoj B. Gavali
Srihari Manipatruni
(student)
(147 Points)
Replied 13 February 2011
it will be better if we go with recent amandments. so consider as 8.5%
CA. Tapan Awasthi
(student)
(29 Points)
Replied 26 September 2011
sir, shall we divide the assessment year in 2 parts for calculating interest on rpf?
such as period before 31-8-2010 should be assessed by 9.5% and period after that i.e from 1-9-2010 should be assesed by 8.5%
....
thanking in anticipation....
Rahul
(Chartered Accountnat CS)
(1580 Points)
Replied 26 September 2011
As per Notification No. 24/2011, dated 13.05.2011 in case of RPF, interest is exempt up to 9.5% p.a. with retrospective effect 01-09-2010. Therefore earlier Notification 69/2010 is set aside, which had reduced the said rate to 8.5% p.a.
THIS MEANS THAT 8.5% GETS CANCELLED FOREVER
CA. Tapan Awasthi
(student)
(29 Points)
Replied 02 November 2011
but that new 9.5% rpf interest rate is applicable to may 2012 batch na..
n nt 2 nov' 2011 batch
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