Employees provident fund
This query is : Resolved
09 October 2015
need every detail of employees provident fund. why the TDS is deducted on interest on employees provident fund and is it taxable??can it be treated as exempted income??
10 October 2015
TDS applicable in case of premature withdrawal before 5 years or on excess interest paid on PF over and above exempted rate.
Normally PF interest payment is exempted from income tax.
Normally PF interest payment is exempted from income tax.
14 October 2015
sir..then how should I treat it??either an exempted income or income which is included in taxable income??
15 October 2015
It is a taxable income.
15 October 2015
sir..the assessee is working for more than 5 years with the same employer and have not with drawn the amount. the rate of interest is also below 9.5%.But there is deduction in TDS
15 October 2015
Interest rate more than 8.7% (declared rate) is taxable.
15 October 2015
sir..the interest rate is only 8.33%
15 October 2015
Then ask the company why TDS is deducted.
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