2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Union government retained the interest rate for General Provident Fund (GPF) at ______ % for the first quarter of the current financial year 2019-2020.
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9 %
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5 %
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8 %
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12 %
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Explanation:
Detailed explanation-1: -However, the Government of India has revised the interest rate on GPF and in this period, it will fetch an interest rate of 7.1% for all the subscribers to the General Provident Fund and other similar funds.
Detailed explanation-2: -Union Budget 2023 Outcome The TDS rate has been reduced from 30% to 20% on taxable withdrawal of EPF for individuals who do not posses PAN. The government has decided to retain the EPF interest rate of 8.1% for the financial year 2021-22.
Detailed explanation-3: -The government revises the interest rate on GPF every quarter. In the previous quarter ended 31 December, 2022, the GPF interest was similar at 7.1%.
There is 1 question to complete.