Deducting employee contribution in PF
This query is : Resolved
15 September 2020
Hi,
I worked for an employer for 7 months in this FY, and later withdrew my PF (which had only 7 months worth of amount), I have below questions:
1. can I deduct my own contribution to the PF as 80C deduction in ITR?
2. employer has already paid TDS for their contribution in the EPF, but not on mine, do I need to pay taxes on my contribution too?
Thank you
I worked for an employer for 7 months in this FY, and later withdrew my PF (which had only 7 months worth of amount), I have below questions:
1. can I deduct my own contribution to the PF as 80C deduction in ITR?
2. employer has already paid TDS for their contribution in the EPF, but not on mine, do I need to pay taxes on my contribution too?
Thank you
15 September 2020
1 No, you can't deduct as withdrawal before completing 5 years.
2 As deduction not claimed you need not include your contribution.
2 As deduction not claimed you need not include your contribution.
16 September 2020
Thank you for your response.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Treatment of Pension ?annuity returns on PMVY
- Loan by Partnership Firm
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- Last year TDS Claim
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
