PF Withdrawl (Taxable or Taxfree)

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Please let me know if any person leave his/her company and received a sum of 75000/- in form of Provident fund than this amount will be taxable or tax free?

Replies (2)

Dear Gaurav

Withdrawal of PF amount is not taxable at the time of retirement but if you withdraw the amount before 5 years duration then it is taxable. 

Regards.

Pradip Pandey

Any withdrawal from Provident Fund is not taxable and is exempt under section 10(11) and 10(12) of the Income-tax Act, as the case may be,  depending upon the facts of each case. In the given case it is exempt under section 10(11).


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