TDS on EPF contribution exceeding specified limit

EPFO has notified about the calculation and deduction of taxable interest relating to PF contribution that exceeds 2.5 Lakhs.

As per Finance Notification (31 Aug 2021) released by CBDT, the interest relating to the contribution in Provident Fund exceeding a specified limit of Rs.2,50,000/- shall be a part of taxable income of the subscriber.

This shall be applicable with effect from 01 April 2022 for the financial year 2021 - 2022.

Related Acts
  • PF Act

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