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Please help me with that! Rishabh joined BCD Ltd. as its finance manager, being his first employment, with effect from 1.4.2023 on a basic salary of Rs. 2,25,000 p.m. He received dearness allowance @ 12% of basic salary which formed part of retirement benefits. Rishabh contributed 11% of his basic salary and dearness allowance to the RPF account with BCD Ltd. making a matching contribution Interest for the FY 2023-24 accumulated in the fund was Rs. 53,250. Rate of interest does not exceed 9.5%. Compute the amount of taxable interest for the AY 24-25

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Asked by Ashish23 Apr 2024902 views

3 answers

  1. Agathiyan · 23 Apr 2024

    In URPF Account only employee contribution not taxable but interest is taxable under the head income from other sources

  2. Agathiyan · 23 Apr 2024

    Rishabh contributed in RPF account ,so if any excess 9.5% of interest will be taxable under head salary u/s17(1).

  3. Gowtham · 23 Apr 2024

    Employee contribution is not taxable but interest thereon taxable under head income from other sources

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