Pf withdrawl

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

29 January 2012 Sir,
want to know will my PF be taxable in case of with drawl?

i joined Asian Paints(AP) in sep 2005 and left in dec 2008 , then joined nestle(N) in dec 2008 and worked there till feb 2010.

i had transferred my pf from AP TO N and till date ie on 28.01.2012 all pf money (approx 1.16 lakhs) is lying with nestle trust.

pls tell me whether there will be any TDS Deduction?

also tell me if suppose there are no tax deductions and if i receive full amount ,will it be taxable in my income for py-2011-12? What will be the tax amount?

U S Sharma

U S Sharma (Expert)
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29 January 2012 sept 2005 to feb 2010 does not confirms 5 completed years, hence TDS may be initiated by pf office

after two years of cease of contribution, the account will get dormant

such amount would be added back in your taxable income in year of withdrawl.

Querist : Anonymous

Querist : Anonymous (Querist)

30 January 2012 but someone told me that the contributions made in 2005 and 2006 upto feb 2007 will not be taxed if i withraw pf contributions in feb2012.

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