Public provident fund

This query is : Resolved

B.V.Vijaya Lakshmi (Querist)
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16 April 2014 sir,

an employee resigned from his employment due to health problem,so he has withdrawn all his accumulations from his public provident fund. all such accumulations taxable or not.please explained in detailed

CA Deven

CA Deven (Expert)
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16 April 2014 Dear Vijya Lakshmi,

You are talking abt PPF or PF.

Withdrawal of Both are not taxable in the eyes of Law.

B.V.Vijaya Lakshmi

B.V.Vijaya Lakshmi (Querist)
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16 April 2014 Thank you sir,
It is PPF and is it exempted for every employee or there is any limitations for it.

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CA Deven

CA Deven (Expert)
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16 April 2014 dear you can not withdraw ppf for 15 years read ppf provision

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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16 April 2014 @ BVV Lakshmi

Principal and interest both tax free.

@ CA Deven

Subscriber is entitled to partial withdrawals every year after the expiry of 5 yrs from the end of the FY in which the initial subscription was made.