Epf
This query is : Resolved
05 January 2016
I wanted to know Taxablity of EPF.
I have EPF account From Aug-11 I wanted To withdraw. amount
I have EPF account From Aug-11 I wanted To withdraw. amount
Ankur Singhal
(Expert)
05 January 2016
Dear Suchi
Taxable in the year of withdrawn if withdrawn before the subscription period of 5years.
Hence in you case taxable as withdrawn before completion of 5 years.
Taxable in the year of withdrawn if withdrawn before the subscription period of 5years.
Hence in you case taxable as withdrawn before completion of 5 years.
05 January 2016
I have doubt About 5 year Period . can you please define 5 year of employment or 5 year of PF Account
05 January 2016
I have doubt About 5 year Period . can you please define 5 year of employment or 5 year of PF Account
Ankur Singhal
(Expert)
05 January 2016
Dear Suchi
1. Provident fund withdrawals before five years of completion of service will attract tax deducted at source (TDS) at 10 per cent.
2. If the accumulated provident fund balance is less than Rs 30,000, TDS would not be applicable.
1. Provident fund withdrawals before five years of completion of service will attract tax deducted at source (TDS) at 10 per cent.
2. If the accumulated provident fund balance is less than Rs 30,000, TDS would not be applicable.
Ankur Singhal
(Expert)
05 January 2016
Dear Suchi
Hope you got the answer to your query.
Hope you got the answer to your query.
Ankur Singhal
(Expert)
05 January 2016
Yes it will be taxable.
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