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receipt from provident fund

Raj Thakkar (ARTICLE) (382 Points)

19 July 2019

At the time of retirement if an assesse receive amount from provident fund, then is it necessary(compulsory) to show that amount in ITR or not?

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6 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178080 Points)
Replied 19 July 2019

Very much compulsory....... there are options available under Schedule EI for its exemption ...

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Raj Thakkar (ARTICLE) (382 Points)
Replied 19 July 2019

Thank you sir for your reply, so full amount is exempt?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178080 Points)
Replied 19 July 2019

tax-treatment-of-provident-fund

tax-on-provident-fund

info/retirement-benefit

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Raj Thakkar (ARTICLE) (382 Points)
Replied 15 August 2019

Thank you very much sir for your reply, above links are very helpful... Sir please help me with my query i.e. 1)can we consider EPF as RPF or it should be disclose in ANY OTHER part? 2) while disclosing receipt from PF in itr is it require to bifurcate principal & interest amount?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178080 Points)
Replied 15 August 2019

1. Its generally RPF, but check your statement.

2. Yes, if any part is taxable.

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Raj Thakkar (ARTICLE) (382 Points)
Replied 16 August 2019

Thank you very much sir for your reply, so if any part of interest is taxable then we are supposed to report it under IFOS and rest exempt part with principal is to be shown under exempt part of PF, Right? Just confirming?