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Ramalingam Kalirajan |10288 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Oct 24, 2024

Ramalingam Kalirajan has over 23 years of experience in mutual funds and financial planning.
He has an MBA in finance from the University of Madras and is a certified financial planner.
He is the director and chief financial planner at Holistic Investment, a Chennai-based firm that offers financial planning and wealth management advice.... more

Question by praveen on Oct 13, 2024Hindi

Money

Dear Sir, I have 2 PF account, one is in SBI and another with my company, Total contribution is approx 4 Lac per annum, is this is taxable or not

Ans: The contributions to your PF accounts, including the company and SBI (I hope it is not PPF), are not taxable up to Rs 2.5 lakh per annum. Contributions exceeding Rs 2.5 lakh in a year will attract tax on the interest earned.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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Hello Sir! My PF contribution (including VPF)exceeds the 2.5 lakhs limit meant for a private sector employee for tax exemption on the interest earned. Interest earned on the excess amount above 2.5 lakhs, has been taxed at 10% by the PF authorities. Do I have an additional tax liability on the interest earned (under income from other sources) as my tax bracket is 30 percent?

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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