most urgent pf withdrawn

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 April 2015 SIR IF PERSON HAS WITHDRAWN PF FROM HIS ACCOUNT AND TOTAL CREDIT IN HIS ACCOUNT IS 15,01,560 HE SERVED 4 YEARS AND 5 MONTHS WITH HIS EMPLOYER AND HE AVAILED 80 C DECUCTION FOR ALL 4.5 YEARS WHATEVER HE HAD CONTRIBUTED

THEN WHAT WILL BE TAX IMPLICATION

10 April 2015 Withdrawal after 5 years is exempt. This amount is treated as current year income and tax payable on it.

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 April 2015 Seetharaman sir, is there any requirement that we have to confirm with client this id recognised or unrecognised PF or

we have to split that amount like interest on employee conyri. will be taxed in IFOS and remaining in Salary Subject to Relief u/s 89

please reply

11 April 2015 Replied to another query.


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