Interest on employee contribution to provident fund (PF), hitherto exempt, was made taxable vide the Finance Act, 2021, on contributions exceeding a prescribed threshold of ₹2.5 lakh ( ₹5 lakh in cases where there is no contribution by the employer) in any financial year (FY). The objective of Budget 2021 was to limit the exemptions granted with respect to the accumulated balance payable to an employee.
Financial Terms Like Mutual Fund, IPO and Bond Now In Sign Language For Differently-Abled
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