Interest on Employee contributions to Provident Fund over Rs 2.5 lakh per annum is Taxable Effective FY 2021 – 22

As announced in the Budget 2021, CBDT has issued notification vide G.S.R.604 (E) Dt. 31st Aug’2021 framing Rules for taxing interest on excess EPF contribution. Accordingly, the interest earned on any contribution in excess to Rs 2.5 lakh per annum by an employee to a recognized provident fund will be taxable from 01 April 2021. […]

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