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Is interest earned in pf account taxable?

Tax queries 276 views 6 replies

Is Interest earned in PF account taxable after resignation and having no other job?

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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