Income Tax -Employees’ Provident Fund – 9.5% notified as rate of interest

• Sunday, May 15, 2011, 1:53
• Income Tax
• Notification

IT : Employees’ Provident Fund : 9.5% notified as rate of interest under rule 6(b) of Part A of Fourth Schedule – NOTIFICATION NO. 24/2011 [F.NO. 142/14/2010-SO (TPL)], DATED 13-05-2011

Rule 6(b) of Part A of Fourth Schedule to Income-tax Act, 1961 – Recognised Provident Fund – 9.5 per cent rate notified under rule 6(b) of part A of IVth Schedule – Supersession of Notification No. S.O. 2091(E), dated 26-8-2010

NOTIFICATION NO. 24/2011 [F.NO. 142/14/2010-SO (TPL)], DATED 13-5-2011

In exercise of the powers conferred by clause (b) of rule 6 of Part A of the Fourth Schedule to the Income-tax Act, 1961 (43 of 1961), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 2091(E), dated the 26th August, 2010, the Central Government hereby fixes, with effect from the 1st day of September, 2010, 9.5 per cent., as the rate referred to in the said clause.

Govt exempts whole 9.5% interest on Provident Fund (PF) for 2010-11

Related posts:

1. Recognised Provident Fund : 8.5 percent rate notified under rule 6(b) of Part A of IVth Schedule to the Income-tax Act, 1961
2. Budget 2011- Recognition to Provident Funds– Extension of time limit for obtaining exemption from Employees Provident Fund Organisation (EPFO)
3. Entire 9.50 percent interest income on Employees Provident Fund to be tax-exempt
4. Extension of time limit for conditions to be satisfied by a provident fund for receiving or retaining recognition under the Income-tax Act
5. Employees Provident Fund (EPF) interest rate likely to be fixed at 8.5 percent for 2010-11

Tags: Income Tax Notifications

5 Comments on “Income Tax -Employees’ Provident Fund – 9.5% notified as rate of interest”

• dattatreyahg wrote on 16 May, 2011, 10:07

  Why not 9.5% interest on P P F ? Please do not discriminate between two identical savings schemes.Otherwise it gives an impression that only those who have lobbying capability will get benefits of this kind. Yes,E P F has the strong support of Labour minister and trade unions whereas the p p f investors are not an organised group. But justice can be done even without lobbying if govt has some respect for propriety and fair play. Will taxguru take it up in a big way?
• GAJENDRA KRISHNAMURTHY RAO wrote on 16 May, 2011, 10:17

  I WOULD LIKE TO HAVE DAILY LEGAL ISSUES IN CONNECTION WITH SALES TAX INCOME TAX SERVICE TAX AND OTHER COURT ISSUES. PLEASE DO THE NEEDFUL.
• prakash gurbuxani wrote on 16 May, 2011, 10:32

  please clarify 9.5% is appliacable to even on the voluntary providend fund deposited
• Raj G wrote on 17 May, 2011, 19:56

  YES
• Raj G wrote on 17 May, 2011, 19:57

  I Shall sail with you

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