Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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: due date for vat payment :: form 3cd :: cpt :: VAT RATES :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: VAT Audit :: TDS :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India
 
 
« General »
 Fall in tax collection compounds crisis
 Govt sets up task force to review income tax laws
 Tax queries: Contact employer to get Form 16 error rectified
 Finance Ministry may hike monetary limit for filing tax appeals
 Compilation of all notifications issued ON
 Banking transaction tax to have cascading effect: NIPFP
 While filing tax in India, NRIs do not have to state overseas income
 Tax ease on cards, some daily use items may become cheaper
 It’s one year of GSTN, too
 SBI home, auto loan interest rates cut, set to be effective from Nov 1
 MNCs will have to furnish extra disclosures from March 2018

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