Finally, a Breath of Relief and Clarity on TDS Issue on 1% GAP Between Interest Notified by RPFC and Income Tax:
Income Tax - Employees' Provident Fund – 9.5% Notified as Rate of Interest
IT: Employees' Provident Fund: 9.5% notified as the rate of interest under rule 6(b) of Part A of the Fourth Schedule – NOTIFICATION NO. 24/2011 [F.NO. 142/14/2010-SO (TPL)], DATED 13-05-2011
Rule 6(b) of Part A of the Fourth Schedule to the Income-tax Act, 1961 – Recognised Provident Fund – 9.5 per cent rate notified under rule 6(b) of Part A of the IVth Schedule – Supersession of Notification No. S.O. 2091(E), dated 26-8-2010
NOTIFICATION NO. 24/2011 [F.NO. 142/14/2010-SO (TPL)], DATED 13-5-2011
In exercise of the powers conferred by clause (b) of rule 6 of Part A of the Fourth Schedule to the Income-tax Act, 1961 (43 of 1961), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 2091(E), dated the 26th August 2010, the Central Government hereby fixes, with effect from the 1st day of September 2010, 9.5 per cent as the rate referred to in the said clause.
Source: Taxguru.in
Regards,
Sukhvinder S. Bhatia
From India, Delhi
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3Income Tax - Employees' Provident Fund – 9.5% Notified as Rate of Interest
IT: Employees' Provident Fund: 9.5% notified as the rate of interest under rule 6(b) of Part A of the Fourth Schedule – NOTIFICATION NO. 24/2011 [F.NO. 142/14/2010-SO (TPL)], DATED 13-05-2011
Rule 6(b) of Part A of the Fourth Schedule to the Income-tax Act, 1961 – Recognised Provident Fund – 9.5 per cent rate notified under rule 6(b) of Part A of the IVth Schedule – Supersession of Notification No. S.O. 2091(E), dated 26-8-2010
NOTIFICATION NO. 24/2011 [F.NO. 142/14/2010-SO (TPL)], DATED 13-5-2011
In exercise of the powers conferred by clause (b) of rule 6 of Part A of the Fourth Schedule to the Income-tax Act, 1961 (43 of 1961), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 2091(E), dated the 26th August 2010, the Central Government hereby fixes, with effect from the 1st day of September 2010, 9.5 per cent as the rate referred to in the said clause.
Source: Taxguru.in
Regards,
Sukhvinder S. Bhatia
From India, Delhi
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