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The 2021 budget has proposed to tax the interest income earned on various provident funds. Interest earned while making a contribution to the employee provident fund is not taxable if you withdraw at the time of termination after completing five years. There is one change that has been introduced. If you make a contribution to employee PF and if the fund exceeds Rs 250,000. Any interest on that contribution over and above Rs 250,000 is now taxable. One has to pay tax on any interest on this additional amount even if it is withdrawn after five years. The government will notify the rules to clarify the process of calculating the taxable value.
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Is GPF taxable?
basic salary 25000
other salary 40000
PF 3000
VPF 22000
Annual income 780000 "becomes taxable interest
in every coming years"
not a middle class?
A RED THREAT IN THE ECONOMY OF INDIA, EVERY SECTOR HAS BEEN PRIVATIZED BY THIS GOVT, HE SOLD COUNTRY
Fake Budget…. Their are making fool of their own country and their people😡😡😡😡😡😡😡😡😡