Urgent Please
Dear all ,
Good afternoon !!!!!
I am afraid rather confused , Kindly advise whether provident fund is taxable or Not . If it is taxable then Please elaborate it to me .
Your Prompt response would be highly appreciated .
Thanks
2 Replies
CA Rahul Jain
(Job)
(148 Points)
Replied 29 July 2010
in case of recognised provident fund if employer contribution ismore than 12% of salary & intt. on pf ismore than 9.5%then excess amout will be taxable
and in case of unrecognised provident fund repayment part of employer contribution & intt. thereon will be taxable under the salaryhead & intt on employees contribution will be taxable under the haed of other source
in case of statutory & ppf pf is exempt
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