Deducting employee contribution in PF
This query is : Resolved
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Abhi Singh
(Querist)
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
CA R SEETHARAMAN
(Expert)
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.
Abhi Singh
(Querist)
16 September 2020
Thank you for your response.
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