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Income from salaries

Others 234 views 1 replies
mr.x is employed in Bharat paper company at 24000 per month . he is a member of recognised provident fund to which he and his employer contributes 14 % of his salary . during the year he was given credit of 8400 as interest on the provident fund balance of 80000 . calculate the taxable amount of annual accretion to be included in his income under the head salaries for the assessment year 2020-21
Replies (1)
Provident fund in excess of 12% of salary is taxable.
Interest on PF in excess of 9.5% of salary is taxable


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