Pf deducted & reimbersed in the same year

This query is : Resolved

Sumiti Jain (Querist)
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16 March 2013 Assessee had Private job in which his PF was deducted. Now he got the Govt. Job and PF deducted from pvt. job is reimbursed ( before 5 years). While filing his ITR whether he is eligible for PF deduction under section 80 c or not
and what is the tax treatment of amount received from PF a/c?

Santosh Mishra

Santosh Mishra (Expert)
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17 March 2013 It is taxable and tax treatment would be as under:

Employee’s Contribution- Exempt from Tax

Interest on employee’s contribution – Taxable under the head Income from other sources.

Employer’ s contribution and interest thereon- Taxable as Profits in lieu of Salary.

Yes he is eligible for deduction under 80C for PF contributions made during current financial year.