PF Withdrawal
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 November 2009
Can someone please help me clarify the following?
- Is the amount received from the provident fund after 2 years of service taxable or not?
- If the amount is taxable, is the whole amount taxable or only part thereof is taxable (please see example below)?
Example
Total amount received – INR 215,000 comprising of:
Employee’s contribution INR 110,000
Interest on Employees’ Contribution INR 9,000
Employer’s contribution INR 90,000
Interest on Employer’s Contribution INR 6,000
Please let me know the taxable amount in the below 2 scenarios:
Scenario 1: If no separate provident fund is established and dues are deposited in EPF India
Scenario 2: If a separate provident fund is established and recognized by IT Commissioner and dues are deposited in that PF
- Is the amount received from the provident fund after 2 years of service taxable or not?
- If the amount is taxable, is the whole amount taxable or only part thereof is taxable (please see example below)?
Example
Total amount received – INR 215,000 comprising of:
Employee’s contribution INR 110,000
Interest on Employees’ Contribution INR 9,000
Employer’s contribution INR 90,000
Interest on Employer’s Contribution INR 6,000
Please let me know the taxable amount in the below 2 scenarios:
Scenario 1: If no separate provident fund is established and dues are deposited in EPF India
Scenario 2: If a separate provident fund is established and recognized by IT Commissioner and dues are deposited in that PF
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
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Under construction property in ITR
- Section 194JA & JB Income which ITR Form to use
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- Booth for sales promotion
- Capital Gains on sale of residential flat
- F & O PROFIT REPORTING FOR AY 2026-27
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
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
