Nomula Sreenivasarao (DGM -Accounts) (163 Points)
27 July 2010Dear all,
Please tell me PF withdrawal is taxable or exempted...
One of My friend, withdraw his total PF . is it taxable or not.
sachin -ca final nov 2011
(assistant)
(49 Points)
Replied 27 July 2010
sir pls tell whether the payment is covered by EPF ACT 1912 or its recognised pf or unrecognised pf
Nomula Sreenivasarao
(DGM -Accounts)
(163 Points)
Replied 27 July 2010
Yes it is covered under EPF Act, and employee has 7 years service in public limited company..
shyam sundar
(Article Assisstant)
(183 Points)
Replied 27 July 2010
withdrawal of PF is not taxable.
Deepesh Khatri
(CA)
(167 Points)
Replied 27 July 2010
Exempt u/s 10(12) read with part 8 of Schedule IV if covered by EPF Act, 1952
Manoj BG
(Tax Professional and in Service)
(1795 Points)
Replied 28 July 2010
Exempt u/s 10(12)of the income tax act.
Regards,
manoj
HARIHARAN KRISHNAMURTHY
(Service)
(97 Points)
Replied 28 July 2010
It is not taxable if the Member is continuously been a member of the Recognised PF fund for a min period of 5 yrs.
CAclubindia
