News From Press New income tax rules on interest from EPF savings explained in 7 points

New income tax rules on interest from EPF savings explained in 7 points

Source: Mint Mar 23, 2022

The Employees' Provident Fund Organisation (EPFO) earlier this month announced an interest rate of 8.1% on EPF or employee provident fund accumulations in members' accounts for the 2021-22 fiscal, down from 8.5% in the previous year. The interest on EPF was fully tax free in the hands of provident fund contributors till changes were introduced in the Budget 2021, effective from 1st April, 2021.

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