Interest credited to Recognized Prov-ident Fund shall be:
A. Fully Exempt for employee
B. Exempt up to 8.5% p.a. of total contribution
C. Fully taxable for employee
D. Exempt up to 9.5% p.a. of the balance in Fund
Answer:D
Interest credited to Recognized Prov-ident Fund shall be:
A. Fully Exempt for employee B. Exempt up to 8.5% p.a. of total contribution C. Fully taxable for employee D. Exempt up to 9.5% p.a. of the balance in Fund