EPF is no more TAX FREE | Taxability on Provident Fund with Rule 3B Calculation

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2 жыл бұрын

📍The main USP of the Employees' Provident Fund (EPF), apart from safety and high returns (compared to other fixed options such as PPF, FD), is that it has exempt-exempt-exempt tax status. That is, it is exempted from tax at the time of maturity. Further, contributions to EPF and the interest received on the EPF contributions are exempted from tax as well, subject to certain conditions. However, did you know that there are certain instances when EPF can become taxable? In this session we have cover the taxability on provident fund along with rule 3B calculation.
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Пікірлер: 36

@FinTaxPro 2 жыл бұрын

👨🏻‍🎓Join our practical course in GST, Income Tax & TDS - fintaxpro.in/courses/

@rimcollian 2 жыл бұрын

Wow. So well explained. One can see how much effort Vivek has put to understanding it himself and then making it easy for others to understand. Thank you very much.

@sudhanshudixit646 2 жыл бұрын

Awasthi Ji........Brilliantly explained

@akgarg7382 2 жыл бұрын

In your example of 9lac EPF contribution, you said 8% on 6.5lac is taxable which is wrong as 8% is 12month interest while 6.5lac will be accrued over 8-9 months as first the non taxable 2.5lac will be deposited in account in first 3-4 months

@rahulswainofficial2407 Жыл бұрын

What about that 9.5 percentage exemption on employees contribution in case of RPF

@rahulswainofficial2407 Жыл бұрын

No body clearly tells about this

@skillvivekawasthi 3 ай бұрын

Interest on RPF never cross 9.5% and thus it doesn't apply on RPF and that is the reason nobody discuss that point. However government put that restriction for URPF and other unregulated funds.

@GoodHuman-rs3gc Жыл бұрын

If the employer contributed much less than 7.5 in total of 3 years from 2014-17, then it should not be taxable, right?

@janhaviwaingankar6598 Жыл бұрын

Very well explained ❤

@hemantkhandekar2309 2 жыл бұрын

While on partial withdraw from PF which account prefer first taxable or non taxable

@AKUMAR-cg1vw Жыл бұрын

Will VPF and PPF deducted amount in one FY be added in exempt limit 2.5L ?

@ramankumar-ei4lo Жыл бұрын

Sir epf interest still not credit and last date of ITR already crossed.than how we fill return

@shrikantpise8436 2 жыл бұрын

Kya bat he sir ji thanks 😊 🙏

@manveersingh-xo2jh 2 жыл бұрын

Sir,mairi login ID access dined ho rahi hai...uskai lea Kiya karu mai.....please help me sir

@anirbanpatra6898 12 күн бұрын

Thank you so much Sir,

@GoodHuman-rs3gc Жыл бұрын

Hi, If employee contribution is 100, interest on it is 8 and employer contribution is 80 and interest on it is 6. So, acc to your logic, we should put 80+6 as salary income and 8 as other sources. But this will not reconcile the 26AS as that has full amount listed 100+8+80+6 = 194 and 19.4 as TDS on it. So, should we add 100 also to other income and then claim exemption on it?

@deepanshugarg1473 Жыл бұрын

Whether PPF is also covered in 2.5 lakh limit?

@mdzeeshan135 2 жыл бұрын

Very Informative Video Sir ❤️

@FinTaxPro 2 жыл бұрын

Glad you like it

@vikassallan7440 2 жыл бұрын

Sir book keeping par bhi ek course bna de plz , jisme hme pta chale ki company ka data kis format mein ,or kya kya note karna chahiye .

@shivanivarma5528 2 жыл бұрын

Nice video

@FinTaxPro 2 жыл бұрын

Glad you like it

@krishanlal9085 Жыл бұрын

Employer contribution to EPF 1.5 lakh and employee contribution to EPF four lakh. Please confirm tax liability on interest

@amitshrivastava5447 2 жыл бұрын

very good video for learn PF ... please make video on shares capital gain

@FinTaxPro 2 жыл бұрын

Already made you may check on our channel

@shubhamrajput2826 2 жыл бұрын

Nyc video

@FinTaxPro 2 жыл бұрын

Glad you like it

@chandrapoojary2665 2 жыл бұрын

Sir i retired in July 21 .where shud I show my pf amt in itr2. My contribution in fy 20/21is less than 2.5& emp contribution is less than 7.5🙏

@ksnarayanan5281 2 жыл бұрын

I believe this amendment is applicable for PF contributions from April 2021 onwards. Therefore, you need to worrv about the PF contribution for only Four months, viz, April to July 2021. INTEREST on entire balance as on 01/04/2021 is exempt from tax and the tax on contribution in next four months exceeding 2.50 Lakhs OR 7.50 Lakhs only should be considered for tax calculation. You will report interest on PF under exempt income if your tax liability on PF contribution for 2021-22 works out to zero.

@arunbalukumar1982 Жыл бұрын

PFclaimed where shold I show in the ITR?

@sheelendarrajput1597 17 күн бұрын

same question

@prakashganjawala5100 2 жыл бұрын

Please give only employees contribution examples

@santoshdhola4723 2 жыл бұрын

Sir please gst itr tds ke sath excel or taxaxation course for online seller vala course bhi join karke ek affordable combo course banayye 3000 rs. Ke aspas to hm sabke liye acha hoga..

@FinTaxPro 2 жыл бұрын

Hello Santosh We will try