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Thread: Tax on PPF

  1. #1
    Senior Member R K Rao is on a distinguished road
    Join Date
    Oct 2008

    Default Tax on PPF

    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?]


    Last edited by R K Rao; 23-07-2013 at 10:10 PM. Reason: Request for reference/ rule.

  2. #2
    Senior Member Gopal Krishan is on a distinguished road
    Join Date
    Nov 2011


    First of all we have to be clear whether deductions were towards PPF or CPF. Only thereafter one can comment.
    Gopal Krishan

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