After retirement

Save Share

This query is : Resolved

Quick Summary

After retiring in August 2024 and starting consultancy work for the Indian government, the user is seeking advice on tax implications. They want to know the earnings limit to avoid GST, the best time to withdraw their EPF, and how EPF interest is treated for income tax purposes after retirement. The advice received suggests earning less than Rs. 20 lakhs annually to avoid GST and notes that EPF accounts continue earning interest for three years post-retirement, though the interest becomes taxable.

Neeraj

Neeraj (Querist)
Follow

14 April 2025 I have retired in August 2024. Now I am self employed as an expert with govt of India earning consultancy charges only. What is the maximum I can earn to avoid GST. When should I withdraw my EPF as I am not in a hurry to withdraw. What will happen to EPF interest as far as income tax is concerned. Thanks and best regards

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

14 April 2025 1. Anything less than Rs. 20 lakhs.. per year.
2. The EPF account remains operative for three years from the date of retirement or from the last contribution if you stop working before retirement. The account will continue to earn interest during the three years of inactivity.

Neeraj

Neeraj (Querist)
Follow

14 April 2025 Thanks sir, Is the interest on EPF funds becomes taxable after retirement.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

14 April 2025 Yes, taxable after retirement (or no contribution)

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

28 September 2025 Good luck.....

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!