My son has an employee's contribution to EPF of Rs 117000 per annum. How much can he deposit in PPF without attracting Income Tax on the interest.
My son has an employee's contribution to EPF of Rs 117000 per annum. How much can he deposit in PPF without attracting Income Tax on the interest.
Under the new tax regime, you cannot claim a deduction under Section 80C for your EPF contributions. While you still contribute, it doesn't reduce your taxable income.
Interest earned on your EPF contributions is generally tax-exempt.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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