Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: TDS :: VAT Audit :: due date for vat payment :: empanelment :: VAT RATES
« General »
 India’s GST among most complex in world, and it is 0% tax rate that is hurting the idea
 Can’t overrule courts with retrospective amendments, says Supreme Court
 Why tax planning should be an all-year round activity
 8 financial tasks you should do in the next 30 days
 Income Tax department may defend CPC in returns fraud case
  Income tax department sends notices to investors over tax treaty gains
 Seven months after GST rollout: Time for handholding over, Centre to intensify efforts to curb tax evasion
 Individual angels may get tax relief too
 The differences between tax and cess
 Startups that raised funds from angel investors face tax scrutiny
 Tax collection assumptions in India's budget ambitious

9.5 per cent interest on PF gets tax waiver
May, 17th 2011

In a double bonanza for the 4.72 crore subscribers of the Employees Provident Fund Organisation, the income tax department has finally provided tax exemption on the 9.5 per cent interest income on PF deposits for 2010-11, even as Union labour minister Mallikarjun Kharge announced that the government would look at hiking the interest rate further on retirement savings further in 2011-12.

We are contemplating further increasing the interest rate on Provident Fund from the present 9.5 per cent. This time also we want to give more to the employees. We are working towards it, he said in Bangalore.

The ministers comments come as a surprise as the EPFO had earlier attributed the 9.5 per cent rate as a one-off incident possible only due to the discovery of a surplus of Rs 1,731 crore in its suspense account. While ruling out a similar rate of interest for 2011-12, the retirement fund manager was trying to find means to keep it higher than the earlier prevailing rate of 8.5 per cent.

We are not sure if we can match the interest rate of 9.5 in 2011-12 or go beyond it as our existing funds and yields may not allow this, sources in the EPFO said when asked to comment on the ministers statement. A move to further increase the interest rate may not go well with the finance ministry which had put strenuous objections to the labour ministrys plan to provide the 1 per cent additional interest rate.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions