Will the lumpsum payment received (employee contribution & interest) at the time of termination of service will be taxable if PF account is mentained with Govt. What will be the difference if accumulations are credited to PF trust exempt with Income Tax Department.
1 Replies
Taroon Sharda
(Job)
(125 Points)
Replied 25 May 2007
PF received at the time of termination is fully exempted, only interest if received in excess of normal rates will be taxable even then excess amount will be taxable and not the whole amount.
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