exam... urgent please.....!!!

Interest on employer's contribution to recongnised provident fund is exempt upto 8.5% or 9.5%???

which rate is applicable for may 2011 exam??

is any difference in rate in tax and law paper???

Tell me both the rate?? and is any amendment in law?? if yes then give me??

Replies (12)

hai dude..9.5% is given exemption..

Originally posted by : Sasanka Bhalaki

hai dude..9.5% is given exemption..

No its 8.5 %. It is applicable for may 2010. And m preety sure about it, dont think anymore about 9.5%

i think people must be proprely awared about the query before posting there answer, it may misguide anyone

Upto 31/08/2010 ----- 9.5% is exempt & from 1/9/2010 ----- 8.5% is exempt.

U will have to consider both in your quest.

w.e.f from 1.9.2010 its 8.5% p.a .. 

Hey u all are confused me . . . Now which rate is apllicable?? Suppose total intt. Rs12000 recd. @ 12 cent i.e. Exmption allowed upto Rs. 8917. Is i m right??
Originally posted by : G.N.JHA
Hey u all are confused me . . . Now which rate is apllicable?? Suppose total intt. Rs12000 recd. @ 12 cent i.e. Exmption allowed upto Rs. 8917. Is i m right??

in the above case the exemption will be 8500 n the bal of 3500(12000 - 8500) will be taxable in the hands of employee...

Originally posted by : kritika poddar




Originally posted by : G.N.JHA





Hey u all are confused me . . . Now which rate is apllicable?? Suppose total intt. Rs12000 recd. @ 12 cent i.e. Exmption allowed upto Rs. 8917. Is i m right??






in the above case the exemption will be 8500 n the bal of 3500(12000 - 8500) will be taxable in the hands of employee...

i.e. 8.5% for whole year ??

yes 8.5% for year... but if the same interest was received in 2010-2011 then the exempt amt will be 9.5%till 31.08.2010 n there after 8.5%... thus if the above question is related to 2010-2011 then the amt of exempt will be 8916 (3958 + 4958)...

the amt 3958 came by applying (9500 X 5) / 12

the amt 4958 came by applying (8500 X 7) / 12

Originally posted by : kritika poddar

yes 8.5% for year... but if the same interest was received in 2010-2011 then the exempt amt will be 9.5%till 31.08.2010 n there after 8.5%... thus if the above question is related to 2010-2011 then the amt of exempt will be 8916 (3958 + 4958)...

the amt 3958 came by applying (9500 X 5) / 12

the amt 4958 came by applying (8500 X 7) / 12

this question by me from the point of view of may11 exam i. e. Fy 10-11 and AY 11-12. And so exemption value is rs.8917. . . . Quary resolved.

hey can  any one provide me ca final costing notes in hindi plz its urgesnt my mail id is chetanloknathka @ gmail.com                    plz its urgent

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