Transcription of Interest accumulated in a recognised Provident Fund ...
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Interest accumulated in a recognised Provident Fund ...
2017 KPMG, an Indian Registered Partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights reserved. Interest accumulated in a recognised Provident Fund account post retirement/end of employment is considered taxable 27 November 2017 Background Post-employment, whether on account of termination, resignation or retirement, several employees continue to maintain their PF accounts and earn Interest on the same. In this context, the Bangalore Bench of the Income Tax Appellate Tribunal (the Tribunal) has recently held in the case of Dilip Ranjrekar1 (the taxpayer) that Interest accumulated in the Provident Fund (PF) account post cessation of employment is taxable in the hands of the taxpayer.
© 2017 KPMG, an Indian Registered Partnership and a member firm of the KPMG network of independent member firms affiliated with …
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