Recognised Provident Fund
This query is : Resolved
Prateek Biyani
(Querist)
04 October 2007
Can a person which is a member of Recognised Provident Fund (RPF), take loan from it ? And is it possible for him to take loan from it at concessional rate ?
Taking loan from RPF at concessional rate is taxable for all employees or not ?
Taking loan from RPF at concessional rate is taxable for all employees or not ?
S.RAVICHANDRAN
(Expert)
04 October 2007
Taking Loan from P.F. is possible even without paying interest. It is an interest free loan and it can be repaid or adjusted from the employee's final settlement.
Since taking loan from R.P.F. is a capital receipt, it is not taxable for the employee.
Since taking loan from R.P.F. is a capital receipt, it is not taxable for the employee.
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