COMPLETE TAX TREATMENT OF PROVIDENT FUND
In India crores of employees are registered under Provident Fund Scheme, so understanding PF scheme is definitely an area of interest. At the same time employee also wants to know about their tax liability as well as compliance if any required at the end of employee. So considering the importance of issue, I have prepared a video covering provisions of PF Act as well as Income tax Act 1961, to better understand the tax treatment of PF deposit and withdrawal. You can watch the video to get all details:-
Moreover the concept of PF becomes more important after amendments proposed by Finance Act 2016, which creates a stir in the entire nation on the issue of taxability of withdrawal from PF. Although later on after seeing strong objections from almost all sections of society, government has dropped the proposal to tax the PF withdrawal.
In India crores of employees are registered under Provident Fund Scheme, so understanding PF scheme is definitely an area of interest. At the same time employee also wants to know about their tax liability as well as compliance if any required at the end of employee. So considering the importance of issue, I have prepared a video covering provisions of PF Act as well as Income tax Act 1961, to better understand the tax treatment of PF deposit and withdrawal. You can watch the video to get all details:-
Moreover the concept of PF becomes more important after amendments proposed by Finance Act 2016, which creates a stir in the entire nation on the issue of taxability of withdrawal from PF. Although later on after seeing strong objections from almost all sections of society, government has dropped the proposal to tax the PF withdrawal.
No comments:
Post a Comment