Mihir Tanna |831 Answers |Ask -Follow
Tax Expert - Answered on Oct 20, 2022
Does this mean that now on saving will also be taxed? Please advise:
a) Does it make sense to continue investment in Provident Fund if the principal investment gets taxed?
b) Isn’t the income tax, by law, on the income generated, but never on the Principal or capital?
Interest on an employee's contribution to an EPF above Rs 2.5 lakh per annum is taxable and accordingly interest is also subject to TDS.
If employer is not contributing in the provident fund account, the threshold will be Rs 5 lakh per annum.
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