Provident fund taxable interest calculation requires separate contribution accounts and applies threshold limits for excess contributions. Taxable interest on contribution to a provident fund or recognised provident fund exceeding the specified limit is computed as the interest accrued in the taxable contribution account during the tax year. Separate accounts must be maintained for taxable contribution and non-taxable contribution from the tax year 2021-2022 onwards. The taxable contribution account includes contributions above the threshold limit and interest accrued thereon, reduced by withdrawals, while taxable interest means interest income not exempt from inclusion in total income.