PF Taxability, Income Tax on Provident fund, EPF Taxability, EPF tax, EPF new rules, Provident fund
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- Опубликовано: 5 июн 2022
- EPF which is employee provident fund is most important element for every salaried person.
Income Tax on Interest on EPF contribution is mad applicable from 1.4.2021 that means if you are filing Income Tax return for F.Y. 2021-22 & A.Y. 2022-23 than you have to show taxable PF interest in income from other sources but in ITR there are many columns for provident fund so this video gives you clarity about interest calculation on PF and how to show in ITR.
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You r one of best teacher the way of teaching style is the best and students gets easily understood.
Thanks mem and team of C.A guru ji
Hello mam,
Thanks for detailed information. Say we calc the tax ourselves for pf more than 2.5L and pay tax, file return.. But when epfo credits interest in next few months they will deduct TDS (even though it's already paid at our end).. How to handle this, your input would be really helpful.
Very clear and precise explanation...Great Job...👍
Ma'am,very clearly you explained it. I have a one doubt also you said it under Non Taxable column Interest calculated on 750000/-. So, my doubt is, it is calculated on 750000/- or on 700000/- because interest already calculated on taxable part on 50000/-.
Please guide and clear doubt.
Nice Explanation. When will EPFO give this detail for filing return for AY 2022-2023? So far not credited interest too.
Thank you ma'am. You have explain very well. My query is solved
Thank you for informative video.
I received maturity of sbi ppf on may 2021.
Which column I have to show it in Itr?
can you clarify me on this. will i get both in exemption employer and employee fund in the ITR or will i get only the employee fund for exemption.
Thank you so much for your valuable information.
One of the best explanation undoubtedly. As they say "beauty with brain"😛.
Hello Ma'am, In ITR for AY 2023-24 the ITR2 online sofware is not allowing to enter the interest accrued for both 10(11) and 10(12). If I enter value in one the other gets disabled. Have i misinterpreted the explanation given. Thank You
Mam in ITR sec10(11) first proviso should we show taxable interest or tax on interest @ rate of tax slab
Madam, I have a question. You told before 1/4/2021 Pf contribution was tax free but only 1.5 lakhs get deducted under section 80C. I thought beyond 1.5 lakhs was taxable. I cannot understand the relationship between them. Please help me out.
in ITR-3, I am not able to find place to fill under 10(11 or 12) . Cab you please under which schedule these avaialbe
Superb Explaination mam thank you very much
Thank you
Hello Madam, thanks for such a nice explanation, I appreciate. I have one clarification, when you talk of Rs. 2,50,000/- limit per annum, are we including both the employer and employer contribution upper limit to Rs. 2,50,000/- or is the limit only for employee contribution
Only employee contribution
Very nice mam I have a query yaha table me closing balance(54000) of taxable income next year ka opening balance(54000) hoga further same contribution(50000) me taxable income 54000+50000=104000 hoga yes or no please guide me
Thank you for good explanation
Hi Madam - where do I get 10(11) in itr2.. I have checked in income from other sources but couldn't find it.. Would be helpful if you can tell that
It was anounced that this above 2.5L or 5L is 10% TDS. But now it is taxed at slab rate as this pf intrest is considered as INCOME FROM OTHER SOURCES. Now by declaration will that become 10% ?
Very useful information Mam , thanks a lot for this plz also confirm taxability rules for interest earned on PPF account during a financial year means as there is a rumor that if interest earned on a PPF ac more than 1 lac it is taxable ,is it correct ?
What if the EPF delays the payment of interest until the due date of Filing ITR? Since, no interest is received before the end of FY - do we need to show this additional income?
सी ए. गुरु जी
जैसा कि आपने बताया कि ये जो चार कालम है
इन में पहले दो कालम इस साल भरे जायगे
और अगले दो कालम अगले साल भरे जायेंगे
मैं आपसे सहमत नहीं हूँ
अगले साल दो जगह INTT. दिखाने का
कोई तुक नहीं है
मेरे हिसाब से इस प्रकार से है
पहले दो कालम 10(11) मे
STATUTORY PROVIDENT FUND
की फीगर आयेगी
और
दूसरे दो कालम 10 (12) में
RECOGNIZED PROVIDENT FUND
की फीगर आयेगी
आप मुझसे अगर नही भी सहमत हैं या सहमत हैं अपने विचार दीजियेगा!
!! सेवानिवृत्त अधीक्षक !!
भारत सरकार
I will surely recheck thanks for writing
@@CAGuruJi
कृपया आप भी देखे
since Section 10 (11) and section
10 (12) provides exemption towards
The STATUTORY PROVIDENT FUND
and RECOGONIZED PROVIDENT FUND We would hereunder understand some of the general basic of the same.
The Government, Government bodies Railway, local authorities ETC. maintains the STATUTORY PROVIDENT FUND on the other hand any establishment or business entity
having 20 or more employes can join the RECOGNIZED PROVIDENT FUND THE establishment / business entity can themselves create the scheme under the RECOGNIZED PROVIDENT FUND and manage the same. However all the RECOGNIZED PROVIDENT FUND schemes are mandatorily required to be approved by the COMMISSIONER of INCOME TAX.
अतः मेरे हिसाब से ऊपर के दो कालम 10(11) STATUTORY PROVIDENT FUND के लिए है!
और
नीचे के दोनों कालम 10 (12) RECOGNIZED PROVIDENT FUND के लिए है
आशा है अब आप मुझसे सहमत होगी
मैं 1972 का एम. काम. हूँ
अंतिम फैसला C. A. का ही माना जायेगा
!! सेवानिवृत्त अधीक्षक !!
भारत सरकार
Superb explanation.
In 26AS there is PF withdrawal and sec 192 is mentioned, how to find out which category of provident fund withdrawal it is?
Thank you Mam
APSAI BOHOT KUCH SHIKTEHAI
Thank you
Thanks a lot. Really helpful mam
Quite nicely explained.
One query - I have continuously worked for 8 years in a company and resigned in 2016. Since then I am not working anywhere. Last year I have withdrawn my entire PF balance. Please let me know if I have to pay tax for interest earned on the non-contributory part (i.e, after my resignation).
Same question. Please let me know if you get any clarification on this.
Very nice explanation thankyou mam
Thank you
mam jaise ki examaple me cummulated balance jo 54000 thousand hai uske intrest pe aane wale har sal tax paid karana parega kya ?
Monthly pension from PPF account of senior citizen... whether taxable in salary head or in other sources or exempt... although no other salary income of assessee
My Contribution towards provident fund is eligible for deduction under 80C , But what about my employers contribution? The employer also equally contributes towards my provident fund, is that amount also eligible for deduction?
How to show EPF withdrawal less than 3 years? Should employer contribution and its interest be under salary and employee contribution's interest under other sources if emplyee contribution was not used for 80c earlier? How to get reconciliation with 26as which has both employer and employee contribution as a single amount?
where to show the EPF amount drwan after 10 of service in ITR and itsection.
Hi, Thanks for informative video.
I've a doubt, Let us say a person earns 10LPA & invests 2.5LPA in EPF/VPF. Then his taxable income will be 7.5Lac or 8.5 Lac?
1) If I consider non taxable contribution of 2.5Lac in EPF/VPF then Taxable amount will be 7.5Lac
2) If I consider tax exemption wrt old tax regime u/s 80C then his taxable income is 8.5Lac.
Please share your thoughts on this.
is the interest earned on non taxable portion after retirement Taxable under income tax and TDS provision applicable under it ?
Hello mam EPF ka final withdrawal amount tax free hai ya nhi aur isko itr mai kaha sho karna hai..
I am retired just in last month.I want to deposit all my retirement benefits in GFA account by reopening act after retirement.Interest on GPF act will be now taxable or not in respect to new income tax rule 9D.
Pooja mam, kindly clear the more doubt, according to your video i am understand , eak bar interest ka chickchick shuru ho gya to vo phir chalta hi rhega eak salaried person ke case me. am i right??
Thank you so much Madam,
Total PF amount incl 2 shares wth interst= 510000 till 30.4.2020,
Claimed the PF amount during 2022, where and how should the PF claim tobe shown, please guide us.
Nice video mem, good explanation
Thank you
Even as of today, EPFO has neither created a new passbook for taxable/non-taxable contributions nor the interest is credited, also the rate of interest fluctuates. Now, the last date for ITR filing is 31st July 2022. How to file ITR without this PF interest information?
Same question form me
@shukalok Did you get answer to this question from anywhere?
@@harman.manchanda You took almost a year to reply. That really doesn't help.
@@shuklalok Bhai I am asking not answering.. Not the creator of this video. Kyon confuse ho rahe ho? And my question was for 2023 filing. You replying after 1 month .. thats not helpful 😂😂 Anyways I got my answer elsewhere.
EPF intrest autofill in itr-1 in head of other sources of income?
Really mam jabardast ........
Mam agar kisi ki retirement 2021 se phele ho gayi but 3 year unki PF trust ne unki amount hold ki then usper interest diya us case me kya karna h..
Mam mana kavp pa estimated interested meri previous itr ma come from other sources
Ms approx 160000 show Kiya Tha but ab maturity time pa post office na total kvp interest 400000 approx show Kiya ha ais ma. Ma Jha 160000 already show Kar Kiya ha eski dedu8 kha show Karni Holi itr 1 ma
Thanks ❤ very useful
EPF calculation to be on basic 15K & maximum contribution amount should be Rs. 1800 P. M right.
Can you please explain in details?
The taxable and no taxable bifurcation has not been made in the PF portal, when will they do it> If they dont how do we file ITR
Fine. Does this option come up in ITR-2?
Madam sft value how to treat this item( credit card transaction)
EPFO HAS NOT CREDITED INTEREST OF 2022-23 TILL DATE. SO IN ITR OF AY2023-24 DO WE DECLARE TAXABLE AMOUNT
Mam How to get Details of Interest on Taxable and Non Taxable Contribution of Provident Fund from EPF
Nice ma'am
Good information 👍
Madam, EPF interest calculation done by monthly basis. Why are you calculate annually.
Hello mam
Epfo seprate the taxable contribution but not show the taxable interest then how we file ITR
Information about 10(11) and 10(12) is completely incorrect.
10(11) is for Statutory PF ( Govt, Semi Govt)
and 10(12) is Recognized PF
thank u so helpful
good explanation
Hello Ma'am
I have withdrawn pf amount ₹67k under pandemic.
Now please tell me how to show this amount while itr filing.
Ma'am jo isme employer contribution pe interest lgega uska kaise krna hai? vo bhi taxable hoga?
Thank u very much😃
THANKS MADAM
How to show for PPF (Public provident fund)?
Pf ka statement kaise download kore...plz make a video on this
nice video, Mam account manager ke liye kya sikhana hoga??
Accounting, Gst, Income tax and Tds
Good education
Dear ma'am mera ek query he-
Agar kisi financial year me Hamra more than 50k cash back pate he to o pura income hamare liye taxable hota he "to mera question he ki cash back jl hum pate he Osko to account me show nahi karta he to hame kitna cash back receipt hua he kese pata rahega department ko?
Please reply me ma'am
if it came in account then it can be find out by department but not easy
Where to put in ITR, "Taxable Interest on EPF balance after leaving job in 2020".
In your example, where ram contibuted 3 Lac to pf, is it the sum of employee and employer contribution or just employee contribution?
Only ram contribution...No tax on employer contribution
@@avulameghalatha5325 Thanks. Are you sure that Employer contribution is not included in Rs. 2,50,000/-
Nice explanation. Mam plz let me know that I have contributed ₹7,20000/- in my gpf account for the financial year 2021-22. Therefore as per new proviso of IT,I have to pay income tax on interest accrued on 220000/-. I have also withdrawn ₹ 1000000/- from my gpf fund to pay fee of my son.
Am l entitled to get exemption from paying the IT on interest accrued on ₹220000/-
Kis ke contribution pe tax lagega employee ya employer??
mai us 4 options me se kisi bhi ek ko fill karne ke liye click karo to baki field invalid ho hata hai, aisa kyu?
Is PF deposited by employee taxable in new regim?
If i am withdraws 51000 from epfo account
So this amount show in which column in ITR 2
हेल्पफूल विडिओ
Good Evening mam I have withdrawn my pf balance 3 lakh how to show it in itr
Whether these rules will apply to Public Provident Fund (PPF) also?
NO
Thank you madam
Thank you
Mam Mai na 1457000 epfo final withdrawal kiya hai mera 145700 tax kata hai mera Kitna refund hoskta hai
@@CAGuruJi please
Is the interest on my EPF taxable if I quit my job and start a business ?
mam PF Maturity amount ko Itr me kahi show karenge kya, ya nahi.
Exempt income
Nice video
pf under the tax liability yes or no
Mam I work in government sector than how to know employer contribution on epf ?
From payslip
Good morning mam adhar se pan number link ki koi video bnao please
Watch yesterday's video
Mam jo traders ke saler hote hain jaise cement and sariya sales katre hai unki entry kaise karen sariya sales karna hai to kaise karen please mam
Our accounting course is coming soon.
@@CAGuruJi I am very happy waiting for accounting course
Madam, Taxable contribution interest calculation after the completing the contribution of Rs 250000/= therefore total interest (2021-22) is very less due to interest applicable for the last few months only. please correct the calculation of Rs 4000/=
Madam service ke dauraan nikala gaya pf income tax mein kaha dikhhyein
I want another example of this section for studies
will try
In GPF , contribution limit is 5 lakh
Madam, retirement ke time jo PF ka Paisa Mila wo kaha batayenge?
Aapne Puri Ramayan batayi lekin wo to bataya nahi. Ye sab kon every year file karta he?
Sorry for the language sb ki ❤day lagaadiya hai,, phd in entire politics science...
Employer contribution karte he ki nahi kese pata karenge hum?
ask to your employer
👍
Ma'am taxable contribution pr tax dena h ya nhi
Nhi only on interest
👍👍👍👌👌👌
thank you
Your calculation is fundamentally flawed. If you somebody made the contribution in year 2021-2022, then the person is not getting interest @8.1 for the whole year for the total contibution one had made in the year. Let us say somebody 600000 contribution to PF in 2021-2022. That means 50000 went to PF every month. PF will not give you interest for the whole year for all 600000 rupees. Your calculation is wrong. Thanks.
This Govt made the middle class people chutiyas, and so many complication, which are un-necessary