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R K Rao
23-07-2013, 10:09 PM
I joined a private company and served in the financial year 2011-12. From my salary, the PPF exemption under 80C was given.

After my resignation in the financial yer 2012-13, I received the employee-employer's contribution and interest thereon.

The interest component is taxable as 'income from other sources'

The rebate/ deduction given under 80C will be reversed, since the PPF was settled within 5 years of resignation/contribution.

But what is the status of employer's contribution? will it be taxed in the financial year 2012-13 (when it had accrued) or in the fin year 2012-13 - the year in which it was paid?

[Any particular clause/ rule in IT books?]

Thanks

RK

Gopal Krishan
24-07-2013, 12:37 PM
Dear
First of all we have to be clear whether deductions were towards PPF or CPF. Only thereafter one can comment.
Gopal Krishan