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Payment from Statutory and Public Provident Funds (SPF/ PPF/ RPF) - [Section 10(11) and 10(12)]

Income Tax - Salary Income - 08 - VARIOUS PROVIDENT FUNDS Particulars SPF PPF RPF URPF Employer s Contribution Fully Exempt N.A. In excess of 12% of salary* is taxable Not taxable at the time of contribution Employee s Contribution Deduction u/s 80C .....

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) Fully exempt u/s 10(11) Fully exempt subject to conditions u/s 10(12) Interest on Employee s contribution is taxable u/h. IOS Employee s contribution and interest on such contribution is fully taxable as salary u/s. 17(3) *Salary = Basic Pay + DA ( .....

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ic Provident Fund (PPF) Accumulated balance RPF payable to an employee subject to certain following conditions Condition 1 - Employee has rendered continuous service for a period of 5 years or more; Condition 2 - Where employee has not rendered conti .....

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F with another employer who also maintains RPF then the period of service under former employer shall also be included in calculating the period of continuous service. Section 10(12A):- any payment from the National Pension System Trust to an employe .....

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