Provident Fund withdraw- what is tax liability
This query is : Resolved
26 December 2007
our employee withdraw Epf from company, on that how much amount will be taxable as per Income tax.
what is the exemption limit?
In what section it was available in IT recknor?
plz sir
what is the exemption limit?
In what section it was available in IT recknor?
plz sir
26 December 2007
There are three type of EPF
1 Pf Deposited with RPFC
2. Own Recognised PF
3. Unrecognised PF
In case of recognised PF employee can withdraw only after completion of 5 years. if he withdraw before that period than employees contribution as well as interest thereon will be taxable in the year of withdrawl. You can check in detail from salary chapter of any IT recknor or from Taxman Direct tax law.
Regards,
Sandeep Aggarwal
1 Pf Deposited with RPFC
2. Own Recognised PF
3. Unrecognised PF
In case of recognised PF employee can withdraw only after completion of 5 years. if he withdraw before that period than employees contribution as well as interest thereon will be taxable in the year of withdrawl. You can check in detail from salary chapter of any IT recknor or from Taxman Direct tax law.
Regards,
Sandeep Aggarwal
27 December 2007
thanks sir.
our employee service was not completed 5years, so his EPF amount interest will be taxable
yes, sir - this is correct?
our employee service was not completed 5years, so his EPF amount interest will be taxable
yes, sir - this is correct?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Unanswered Queries
- Query Regarding on TDS section 194H and 194J
- Fixed Deposit Claim Relinquishment by the Nominee
- NR GST NUMBER
- ITR 6 Schedule CFL and UD Issues
- From 15CA for remittance by domestic travel agent by to Foreign Destination Management Company.
- TDS RATE ON RENT PAID TO NRI
- Not a CA , can we prepare balance sheet
- FREELANCING ACCOUNTANT
- GST Form ADT-02
- For REQUIRE INDIVIDUAL GST
- Query reg: Accounting standard, Indian Accounting Standard, IFRS, GAAP, Cost Audit, Frontend audit
- GST Refund SB005 Error
- PAYMENT TO OPEN AI AND ENVATO ELEMENT
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
