INTEREST RECEIVED ON PROVIDENT FUND CONTRIBUTION

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Interest received on both employee and employer contributions to a Provident Fund account upon withdrawal is generally exempted under Sections 10(11) and 10(12) of the Income Tax Act. This exemption applies even after six years of service, confirming the tax-free nature of these provident fund earnings.

Hemkumar

Hemkumar

(Querist)
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15 September 2022 SIR WE HAVE RECEIVED INTEREST ON EMPLOYEES CONTRIBUTION AND EMPLOYERS CONTRIBUTION ON WITHDRAWAL FROM PROVIDENT FUND ACCOUNT, WHICH IS EXEMPTED UNDER WHICH SECTION ? TERM OF SERVICE IS 6 YRS

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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15 September 2022 Section 10(11) and 10(12) of the Income Tax Act provides an exemption for the contribution made to provident fund and the interest thereon.

Hemkumar

Hemkumar

(Querist)
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15 September 2022 SIR WE HAVE MADE WITHDRAWAL AND RECEIVED INTEREST ON WITHDRAWAL

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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15 September 2022 Such withdrawal exempt....

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