PPF contributions to remain tax exempt : Adhia

Posted on:02 Mar 2016 12:27:45
PPF contributions to remain tax exempt : Adhia
02 March 2016 Current Affairs: The Government today said PPF withdrawals will continue to be fully exempt from tax and only interest accruing after April 1 on 60 per cent of the contributions made to Employee PF will be taxed.All contributions and interest accrued to employee provident fund (EPF) before April 1, 2016, will not attract any tax on withdrawal. Withdrawal of principal amount contributed to EPF after April 1 would also remain exempt from any tax.It is only the interest on contributions made after April 1, 2016 which will be taxed
The Government today said PPF withdrawals will continue to be fully exempt from tax and only interest accruing after April 1 on 60 per cent of the contributions made to Employee PF will be taxed.All contributions and interest accrued to employee provident fund (EPF) before April 1, 2016, will not attract any tax on withdrawal. Withdrawal of principal amount contributed to EPF after April 1 would also remain exempt from any tax.It is only the interest on contributions made after April 1, 2016 which will be taxed

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