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Pension from Employess Provident Fund Exempt?

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(Querist)
29 July 2008 While the pension received from the employer is taxable, is it true that the pension received from EPF is exempt? Please guide.
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
30 July 2008 "Family Pension" will be taxable under the head, Income from Other Sources.
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CA N RAJA

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CA N RAJA (Expert)
02 August 2008 1. The accumulated balance due and becoming payable to

an employee participating in Recognised Providend Fund

shall be exempt as prescribed in Rule 8 of Part A of the

Fourth Schedule.

2. Employee's contribution is eligible for deduciton

under Section 80C.

3. Amount received on retirement is fully exempt u/s

10(12)

4. Interest credited in excess of 8.5% is taxable as salary.
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