WebApr 10, 2024 · Any interest on contribution made during the FY 2024-22 in excess of amount of Rs. 2.50 Lakhs (EPF) and Rs. 5.00 Lakhs (GPF) will be taxable as “Income from Other Sources “in the hand of employee or person contributing to those funds. Read EPFO Circular : Contribution to provident fund – Calculation & deduction of taxable interest WebApr 11, 2024 · GPF interest rate to be 7.1% from 1st April 2024 to 30th June 2024. F. No. 5 (3)-B (PD)/2024 .—It is hereby notified that the deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds, announced in the Ministry of Finance (Department of Economic Affairs) Notification No. F.16 (1)-PD/75 ...
Changes in Tax on PF contribution for Government Employees: Finance …
WebFeb 21, 2024 · (ii) The interest earned on contribution above Rs. 5 Lakhs during FY 2024-22 should be treated as income from other sources for the FY 2024-22(AY 2024-23) and … WebFeb 6, 2024 · The Budget 2024 has proposed that from April 2024, interest on any contribution above Rs 2.5 lakh per year in PF will be taxed. There is some confusion among a few people that will this rule also apply to the Public Provident Fund (PPF) contributions? The answer is No as per my understanding. fishing the yellowstone river montana
General Provident Fund (GPF): Know How it works & Benefits
Web₹ 40000.00 ₹ 20000.00 CA Awanish GST Course with Practical Training 100% Job Placement Job Guaranteed Courses ₹ 120000.00 ₹ 60000.00 CA Praveen Career in Corporate Law - 100% Practical Training Courses Job Guaranteed Courses ₹ 60000.00 ₹ 30000.00 Rahul Income Tax Course with 100% Practical Training & Placement Job … WebJan 4, 2024 · Interest rates of GPF, other provident fund schemes The funds that will fetch an interest rate of 7.1 per cent for the January - March quarter, 2024 are 1. The General Provident Fund (Central Services); 2. The Contributory Provident Fund (India) 3. The All India Services Provident Fund 4. The State Railway Provident Fund 5. WebApr 10, 2024 · It is announced for general information that during the year 2024-2024, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.1% (Seven point one percent) w.e.f. 1st April, 2024 to 30th June, 2024. This rate will be in force w.e.f. 1st April, 2024. fishing thirsk