Taxability on withdrawal from Recognised Provident Fund
This query is : Resolved
23 March 2010
If any amount is withdrawn from Recognised Provident Fund, then what are the tax consequences of it?
1. Whether the whole amount withdrawn is taxable or not?
2. Under which section of Income tax Act the same is taxed or exempted?
2. If it is partially taxed then which portion is taxed i.e. interest amt or principal amt?
1. Whether the whole amount withdrawn is taxable or not?
2. Under which section of Income tax Act the same is taxed or exempted?
2. If it is partially taxed then which portion is taxed i.e. interest amt or principal amt?
23 March 2010
Such amount is chargeable at MMR (Maximum Marginal Rate)..Whole of the amount principle as well as interest will be taxed.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- Import license renewal
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
