Tax on PF Withdrawal

This query is : Open

GIRISH SHARMA (Querist)
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15 July 2011 Dear Sir,

I have withdrawn my PF balance BEFORE 5 yrs of service & received in FY 2010-11 as under:-

My Contribution: 108602/-
Company Contribution: 52707/-
Interest: 25370/-

I had no other income as I did my further studies during FY 2010-11. Company deducted TDS 56446/-

Pls advise the tax treatment of EACH component as above. Can I claim basic exemption from Company Contribution & Interest earned ?

I would be greatful for an early response.

Regards
G. Sharma

CA Navin Jain

CA Navin Jain (Expert)
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15 July 2011 Yes, you can claim basic exemption

GIRISH SHARMA

GIRISH SHARMA (Querist)
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15 July 2011 Many Thanks Sir.

Pls advise taxabilty of My contribution. Is basic exemption available for My contribution as well or tax is to be paid as earlier 80C benefit was taken. If yes, at what rate.

Regards
G. Sharma

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