Please find attached the findings of case law, for the subject cited above. Thanks, Vidyadhar Bhat
From India, Pune
73From India, Pune
Dear All,
As per the case law, If member has not withdrawn the PF amount on cessation / retirement , the interest earn on the Balance of PF account will be taxable.
Until the relation of the employer and employee exist, the contribution and Interest exempt on PF for income tax.
Member will be required to show this income in his return every year and pay the tax.
Thanks,
Vidyadhar Bhat
From India, Pune
As per the case law, If member has not withdrawn the PF amount on cessation / retirement , the interest earn on the Balance of PF account will be taxable.
Until the relation of the employer and employee exist, the contribution and Interest exempt on PF for income tax.
Member will be required to show this income in his return every year and pay the tax.
Thanks,
Vidyadhar Bhat
From India, Pune
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EPF Interest 2008-2009.pdf
EPF Interest Calculator.xls