Chargeability of tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 February 2013
Is refund of P.F chargable to tax?
CA Gopal Somani
(Expert)
06 February 2013
PF account will become taxable if it do not satisfy the criteria defined by the Income-tax Act. As per the Act, recognized PF is eligible for exemption from tax only if the employee has rendered continuous service to the employer for five years or more. In case the balance is transferred from the previous employer then the years with previous employer is also included.
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