Is Interest earned in PF account taxable after resignation and having no other job?
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Is interest earned in pf account taxable?
Replies (6)
Any amount Deposited To PPF falls under exempt category and therefore claimed as deduction U/s 80C .
at the time of withdrawal all proceeds from PPF is also exempt provided the PPF account is not closed prematurely.
Yes it is exempted.
Shaik-ji, Rahul-ji, I want to know about PF (the account in which employer puts money on monthly basis).
I do not want related to PPF. Kindly consider it.
1) Statutory/Public Provident Fund Interest is Fully Exempt.
2) Recognized Provident Fund Interest is Taxable in Excess of 9.5% p.a.
YEAH IT IS EXEMPT !
IF IT IS A RECOGNIZED PF : if u resign after 5 years,then amt of withdrawal from pf(including interest on employer /employee contribution will not be taxable).
However if resignation is with in 5 years, u can claim relief from taxability via form 15G/15H (Subject to few conditions).
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