21 January 2011
Will a person get taxed if he withdraws from his PF account before 5 years for the following purposes :
1. purchase of a house.
2. marriage of a daughter..
Please reply asap.. Thanking You, Vipin kumra
P.S. : I read an article in economic times saying that for arranging money for the house one can withdraw from the PF account.. It further mentioned that the withdrawl will be subject to tax if done before 5 years, "unless it is for purchasing a house or marriage of a daughter".. just wanted to confirm..
21 January 2011
Withdrawal from PF is allowed for limited purposes only, viz., purchase / construction of a house, marriage, education, sickness, etc. and the withdrawal is not subject to tax.
21 January 2011
EPF withdrawal for Marriage of a daughter or purchase of house advance in not taxable. if employee withdrawal all amount Employee contribution not lible for tax
CAclubindia
