Taxability on PF withdrawal
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 July 2010
Dear Sir / Madam,
I have withdraw the PF amount from my EPF a/c recently.
Kindly let me whether i have to pay the tax on the withdrawl amount of PF.
Regards,
Shrikant
I have withdraw the PF amount from my EPF a/c recently.
Kindly let me whether i have to pay the tax on the withdrawl amount of PF.
Regards,
Shrikant
23 July 2010
If you close the a/c and withdraw within 5 yr then it is taxable.
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 July 2010
Thanks for your prompt reply..
I have worked in 3 companies --
1st company for 3.5 years
2nd company for 4 years &
3rd company for 6 months...
but the PF a/c numbers for all the companies are different...
from the above i was withdraw the PF for 3rd company ..
so am i liable to pay tax on the same?
Thanks
shrikant
I have worked in 3 companies --
1st company for 3.5 years
2nd company for 4 years &
3rd company for 6 months...
but the PF a/c numbers for all the companies are different...
from the above i was withdraw the PF for 3rd company ..
so am i liable to pay tax on the same?
Thanks
shrikant
03 August 2010
period of service of previous employer also need to consider for counting 5 years, but the account is trasnfered to each account contiuosly no problem, otherwise you may have to pay tax
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