The limit of deposit in provident fund has been increased to ₹ 5 lakh per year, for which tax exemption on interest will continue if the employer does not contribute : Finance Minister

PF NEW TAX RULES

New PF Tax Rule: If employers do not contribute then the limit of tax free investment in PF is 5 lakhs.

During Budget 2021, Sitharaman announced interest earned on EPF contribution (employee contribution only), which is more than Rs 2.5 lakh from April 1.

Finance Minister Nirmala Sitharaman on Tuesday increased the deposit limit in Provident Fund to ₹ 5 lakh per year, for which tax exemption on interest will continue if the employer does not contribute.

read more at : EPFO retains interest rate at 8.5 per cent for 2020-21

Read Daily Short Business News Install Our App

Leave a Reply

S&P BSE SENSEX  ^BSESN 
₹ 47,883.38  ₹ 1.00  -3.44%  
NIFTY 50  ^NSEI 
₹ 14,310.80  ₹ 524.05  -3.53%  
NIFTY BANK  ^NSEBANK 
₹ 30,792.00  ₹ 1.00  -5.10%  
USD/INR  INR=X 
₹ 75.06  ₹ 0.3400  0.46%  
GST TAXPAYERS WHO ARE UNDER QRMP SCHEME? Auto-population of e-invoice details into GSTR-1 trial ITR 1 and 4 Utilities for has been available for E-filing for the Assessment year 2021-2022 Accounting Software with Audit Trail Just In:- CBDT Issue clarification Knowledge is Power! Latest Post