Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: VAT Audit :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: TDS :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: VAT RATES :: cpt :: articles on VAT and GST in India :: due date for vat payment :: form 3cd
 
 
« General »
 Simplified one page Income Tax Return Form: Changes to keep in mind before filing tax return for AY2017-18
  No proposal to replace Income Tax with Banking Cash Transaction Tax
 GST coming July 1 despite calls for delay: Revenue Secretary Hasmukh Adhia
 Centre introduces provision of taxation on NPS in Income Tax Act
 Income Tax Department Clarifies On Cash Withdrawal From Banks, Post Offices
 The Goods And Services Tax (Compensation To States) Bill, 2017
  Goods and Service Tax (GST) and Real Estate Sector
 New Income Tax Rules On Home Loan Come Into Effect
 Here's how late filers can save on stress and taxes
 Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib ?Kalyan Yojana, 2016
 Companies should invest in upgradation of tax technology

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 2017 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