Income From PF Contribution Above Rs 2.5 Lakh Limit to be Taxable From April 1

Union Government has now changed the income tax laws and will be implementing a new one starting from 1st of April.

The new income tax rule will include a threshold limit of Rs. 2.5 lakh on tax free contributions for non-government employees and Rs. 5 lakh for Government employees.

The new rule of tax-free contributions will be helpful for taxpayers to calculate their taxes and will also help in splitting taxable and non-taxable contributions.

Radhika Goyal is Author of Taxconcept Gurugram head office, for deeply reported tax, gst and income tax articles on issues that matter. He splits her time between New Delhi and Bengaluru, and has worked...