A government employee received their Provident Fund (PF) amount upon superannuation after 36 years of service. They are seeking advice on whether it's necessary to declare this tax-free PF amount in their Income Tax Return (ITR), especially since it wasn't reflected in their Form 16A, unlike other received amounts like gratuity and pension commutation. The consensus is that since the PF amount is exempt, there's no harm or mandatory requirement to disclose it in the ITR, and their CA's advice against disclosure to avoid potential IT department queries is considered correct.
31 July 2024
Sir, after 36 years of service in govt public sector on superannuation I received PF amount but I did not show that amount in my current year ITR. All other amount ie GRATUITY, COMMUTATION OF PENSION, LEAVE IN CASHMENT SHOWN BY ME IN ITR DESPITE OF GRATUITY AND COMMUNICATION AMOUNT WAS NOT SHOWN IN FORM 16 A. EVEN PF AMOUNT IS NOT SHOWN IN FORM 16 A. KINDLY GUIDE 1) IF ANY HARM FILING ITR WITHOUT MEHTIONG PF AMOUNT RECEIVED BY ME ON SUPERANNUATION WHICH IS TAX FREE. Or 2) it is mandatory to disclose PF amount received on superannuation which is not appearing in my form 16A? 3) My CA is saying that that their is no need to disclose PF amount in ITR because same is not appearing in form 16A and saying that if we will so the same, then notice from IT Depptt may be issued regarding clarification