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Pf trust exemption

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(Querist)
08 June 2012 Whether Rule 67 for PF trust investments are mandatory? Max 55% in Gsec and stat securities, upto 40
% in PSU and PVT bonds and upto 5% in Money market instruments?

If, it is not followed whether tax exemption of PF trust may get withdrawn?

Any live examples? As informed by client, they can follow LAbour Ministry pattern of Investment

Pls share experience
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CA Rajendra Purohit

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CA Rajendra Purohit (Expert)
09 June 2012 If the investible fund available in the previous year is not deposited into post office saving bank account in India or current account or saving account with any schedule bank then the prescribed manner is given under which the fund should be invested accordingly.

Income-tax rule 67 prescribes an investment pattern for private provident funds and superannuation funds which is to be followed mandatorily to avail tax benefits. Income earned on investments not in line with the pattern prescribed by tax body face tax.
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