PF Withdrawal before age 60

This query is : Resolved

Suchet Dabadge (Querist)
Follow

02 January 2020 I resigned from the service in May 2017 and not working since then. I turned 58 on 2nd December 2019 and will complete 60 years on 2nd Dec 2021. Since I am not working now, I can withdraw PF fully or partially (for valid reasons of children education, marriage etc).
I have 2 queries
1. I want to know if any such amount that I withdraw before I turn 60, will get added to my income and if I am liable to pay tax on the same or as per EEE, its tax free?
2. Should I withdraw the amount entirely 3 years after my last contribution (which was in May 2017) so that I don't get taxed or will the account remain active and I can withdraw after turning 60 years to avoid paying tax?

Regards

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

02 January 2020 1 It's tax free after 5 years of service on resignation. No need to wait for 60 years.
2 You can withdraw it now entirely.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

DHANASHRI KARMARKAR

CA Aakarsh Jain

Michael & Co.

divakar podaturu

sachingurav

Subscribe Now

PF Withdrawal before age 60

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA