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.
please clarify 9.5% is appliacable to even on the voluntary providend fund deposited
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.
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?