Chargeability of tax

This query is : Resolved

Report Abuse Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

06 February 2013 Is refund of P.F chargable to tax?

CA Gopal Somani

CA Gopal Somani (Expert)
Follow

06 February 2013 PF account will become taxable if it do not satisfy the criteria defined by the Income-tax Act. As per the Act, recognized PF is eligible for exemption from tax only if the employee has rendered continuous service to the employer for five years or more. In case the balance is transferred from the previous employer then the years with previous employer is also included.

Message likes : 1 times