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Tax liability on PF withdrawal

TDS 310 views 3 replies

Hi,

    Can someone please help me understand whether PF withdrawal is taxable or not under the below condition.

I left my job in Mar-2020 and has withdrawn full PF amount in May-2020. Since the PF a/c was 5+ yrs old, the PF withdrawal was tax exempted. I have again joined in May-2021, new PF number got created (under same UAN), PF amount got credited to this new PF account. I left my job in Apr-2022 and had withdrawn my full PF amount in Dec-2022 but 10% TDS was deducted by EPF while depositing the amount. Is my PF withdrawal taxable income in FY23 or Can I claim the tax refund on 10% tax deduction? Thanks in advance for your response.

Thanks

Mani

Replies (3)

It is taxable income...              

Sir, Thank you for your reply.

You are welcome.                    


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