Is PF withdrawl Taxablle for a compay i had worked for 7. 6y
This query is : Resolved
CA Sanjay Baheti
(Querist)
16 February 2011
One of my client have just withdrawn his PF... from one of his previous employer st where he has worked for 7.6 yrs ( Dec99 to June'2007)
Got the payment of around 4 lakhs . just wanted to check ..will this amount be taxable ? if yes then how much if no then what are the condition /clause where PF is exempted from taxes
Is this exemption available for PF withdraw only once in lifetime with tax ?
Is partial payment/ full payment while retiring is exemptable from tax .....
Got the payment of around 4 lakhs . just wanted to check ..will this amount be taxable ? if yes then how much if no then what are the condition /clause where PF is exempted from taxes
Is this exemption available for PF withdraw only once in lifetime with tax ?
Is partial payment/ full payment while retiring is exemptable from tax .....
chetan soni
(Expert)
16 February 2011
Any amount received or interest by the person from PF authorities is exempt u/s 10(11) & 10(12).
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