{"id":253569,"date":"2021-09-02T16:30:54","date_gmt":"2021-09-02T11:00:54","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=253569"},"modified":"2021-09-02T14:46:57","modified_gmt":"2021-09-02T09:16:57","slug":"cbdt-calculation-of-taxable-interest-relating-to-provident-fund-transactions-prescribed-vide-income-tax-25th-amendment-rules-2021","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/02\/cbdt-calculation-of-taxable-interest-relating-to-provident-fund-transactions-prescribed-vide-income-tax-25th-amendment-rules-2021\/","title":{"rendered":"CBDT | Calculation of taxable interest relating to provident fund transactions prescribed vide Income Tax (25th Amendment) Rules, 2021"},"content":{"rendered":"<p style=\"text-align: justify;\">The Central Board of Direct Taxes has passed Income Tax (25<sup>th<\/sup> Amendment) Rules, 2021 on August 31, 2021. The Income Tax (25<sup>th<\/sup> Amendment) Rules, 2021 shall come into force on <strong>April 1, 2022<\/strong>. The Amendment inserts Rule 9D prescribing calculation of taxable interest relating to contribution in a provident fund, exceeding specified limit. For the calculation of taxable interest relating to provident fund, following points to be taken into consideration under Rule 9D:<\/p>\n<p>&nbsp;<\/p>\n<ul style=\"text-align: justify;\">\n<li>The Non-taxable contribution account shall be the aggregate of the following:<\/li>\n<li>closing balance in the account as on March 31, 2021<\/li>\n<li>any contribution made by the person in the account during the previous year 2021-2022 and subsequent previous years, which is not included in the taxable contribution account; and<\/li>\n<li>interest accrued as reduced by withdrawal<\/li>\n<li>The Taxable contribution account shall be the aggregate of the following:<\/li>\n<li>contribution made by the person in a previous year in the account during the previous year 2021-2022 and subsequent previous years, which is in excess of the threshold limit; and<\/li>\n<li>interest accrued as reduced by the withdrawal, if any, from such account; and<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\">The threshold limit shall mean:<\/p>\n<ul>\n<li style=\"text-align: justify;\">five lakh rupees, if the second proviso to clause (11) or clause (12) of section 10 is applicable; and<\/li>\n<li style=\"text-align: justify;\">two lakh and fifty thousand rupees in other cases.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><span style=\"color: #0000ff;\">*Tanvi Singh, Editorial Assistant has reported this brief.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Board of Direct Taxes has passed Income Tax (25th Amendment) Rules, 2021 on August 31, 2021. The Income Tax (25th <\/p>\n","protected":false},"author":121,"featured_media":253009,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[29414,13081,7011,46899],"class_list":["post-253569","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-notifications","tag-cbdt","tag-income-tax-act","tag-provident-fund","tag-taxable-interest"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CBDT | Calculation of taxable interest relating to provident fund transactions prescribed vide Income Tax (25th Amendment) Rules, 2021 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/02\/cbdt-calculation-of-taxable-interest-relating-to-provident-fund-transactions-prescribed-vide-income-tax-25th-amendment-rules-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBDT | Calculation of taxable interest relating to provident fund transactions prescribed vide Income Tax (25th Amendment) Rules, 2021\" \/>\n<meta property=\"og:description\" content=\"The Central Board of Direct Taxes has passed Income Tax (25th Amendment) Rules, 2021 on August 31, 2021. 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2022","author":"Bhumika Indulia","date":"January 19, 2022","format":false,"excerpt":"On January 18, 2022, the Central Board of Direct Taxes notified Income tax (2nd Amendment) Rules, 2022 further to amend the Income-tax Rules,1962. Key features: In the Income-tax Rules, 1962, the following rule shall be inserted: \u201c8AD Computation of capital gains for the purposes of sub-section (1B) of section 45-(1)\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"CBDT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":254054,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/10\/scc-online-weekly-rewind-episode-26th-ft-devika-sharma\/","url_meta":{"origin":253569,"position":1},"title":"SCC Online Weekly Rewind Episode 26th ft. Devika Sharma","author":"Bhumika Indulia","date":"September 10, 2021","format":false,"excerpt":"SCC online Weekly Rewind | Episode 26th with Devika Sharma SCC Online Weekly Rewind Episode 26th ft. Devika Sharma, Senior Editorial Assistant\u00a0is out now. The written episode along with the video episode can be watched and read below. Supreme Court Born in a district of Bihar that\u2019s now a part\u2026","rel":"","context":"In &quot;SCC Times Newsflash&quot;","block_context":{"text":"SCC Times Newsflash","link":"https:\/\/www.scconline.com\/blog\/post\/category\/watch-now-2\/scc-times-newsflash\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/09\/MicrosoftTeams-image-118.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/09\/MicrosoftTeams-image-118.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/09\/MicrosoftTeams-image-118.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/09\/MicrosoftTeams-image-118.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/09\/MicrosoftTeams-image-118.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":259394,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/12\/31\/income-tax-35th-amendment-rules-2021\/","url_meta":{"origin":253569,"position":2},"title":"Income-tax (35th Amendment) Rules, 2021","author":"Bhumika Indulia","date":"December 31, 2021","format":false,"excerpt":"On December 29, 2021, the Central Board of Direct Taxes notified\u00a0Income-tax (35th Amendment) Rules, 2021 to amend the Income-tax Rules,1962. Key amendment: In the Income-tax Rules, 1962, the following rule shall be inserted, namely:\u2013 16DD. Form of particulars to be furnished along with return of income for claiming deduction under\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"CBDT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":255152,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/10\/04\/cbdt-notifies-income-tax-31st-amendment-rules-2021\/","url_meta":{"origin":253569,"position":3},"title":"CBDT notifies Income Tax (31st Amendment) Rules, 2021","author":"Prachi Bhardwaj","date":"October 4, 2021","format":false,"excerpt":"The Central Board of Direct Taxes notified the Income Tax (31st Amendment) Rules, 2021 which seeks to further amend Income Tax Rules, 1962. Key changes brought by the amendment are as follows: \u00a0 The 31st Amendment Rules, 2021 has introduced new Rules 11UE and 11UF, after Rule UD for provisions\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"CBDT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":260159,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/01\/15\/provision-for-computation-of-income-of-specified-fund-attributable-to-investment-division-of-an-offshore-banking-unit-introduced-vide-income-tax-1st-amendment-rules-2022\/","url_meta":{"origin":253569,"position":4},"title":"Provision for computation of income of specified fund, attributable to investment division of an offshore banking unit introduced vide Income tax (1st Amendment), Rules, 2022","author":"Bhumika Indulia","date":"January 15, 2022","format":false,"excerpt":"On January 14, 2022, the Central Board of Direct taxes notifies the Income tax (1st Amendment) , Rules further to amend the Income-tax Rules,1962. They will come into force from April 01, 2022. \u00a0 Key Features: Provision relating to Computation of exempt income of specified fund, attributable to the investment\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"CBDT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":112981,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/03\/08\/clarification-by-pension-fund-regulatory-and-development-authority-on-transfer-of-amount-from-recognized-provident-fund-superannuation-fund-to-national-pension-scheme\/","url_meta":{"origin":253569,"position":5},"title":"Clarification by Pension Fund Regulatory and Development Authority on transfer of amount from Recognized Provident Fund &#038; Superannuation Fund to National Pension Scheme","author":"Saba","date":"March 8, 2017","format":false,"excerpt":"In the budget of 2016-17, the Government had announced that the subscribers from recognised Provident Funds and Superannuation Funds would be able to transfer their corpus from these funds to National Pension System (NPS) without any tax implication.\u00a0With the NPS gaining momentum vis-\u00e0-vis other retirement products and a number of\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/253569","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/121"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=253569"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/253569\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/253009"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=253569"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=253569"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=253569"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}