Income tax return

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

05 August 2017 Hello Friends,

My friend earn 480000 from salary in 2016-17. He received his PF also same previouse year of Rs. 142000 and tds deducted by department 14200 on that amount. Both amount are showing in 26 as. my question is what amount I need to take while filing ITR. should I need to club both amount . As far as my knowledge amount received from EPF not taxable in the hands of employee as he already paid tax on that amount in last year. Please suggest what amount I take as a income in ITR.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 August 2017 Club both the amount and file ITR. Last year PF deduction might have been claimed due to premature withdrawal it is taxed.

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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05 August 2017 I assume that the PF was withdrawn before five years of continuous service. In this case, the pf amount will be taxable as follows: Employer contribution and interest thereon under Salaries employee contribution(which was claimed as deduction u/s 80 c in previous years) under salaries Interest on employee contribution under income from other sources

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K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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05 August 2017 You can show both TDS deductions in his ITR.