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Exemption of interest on pf on retirement put in fd

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 October 2015 I am a senior Citizen,retired in 2014 as an officer of a PSU. Out of the Terminal benefits, I kept PF Amount in a Nationalised Bank in FD, as I was informed that the Interest of PF proceeds on retirement is exempted from Tax Liability/TDS, if kept in FD. Kindly clarify as the FD is maturing in this FY and no response from Bank for this issue.

Thanking You
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Nitin Bhuta

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Nitin Bhuta (Expert)
31 October 2015 It is fully taxable as per income tax slab rates as per the determination of total income.

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