Payment from Recognized Provident Fund after 5 years of continuous service of employee shall be:
A. Fully Taxable for employee
B. Fully exempt for employee
C. Taxable to the Exempt to the extent of employer’s contribution and interest thereon
D. Interest on own contribution would be taxable
Answer:B
Payment from Recognized Provident Fund after 5 years of continuous service of employee shall be:
A. Fully Taxable for employee B. Fully exempt for employee C. Taxable to the Exempt to the extent of employer’s contribution and interest thereon D. Interest on own contribution would be taxable