Pf withdrawal - is it salary income or other income
This query is : Resolved
08 July 2016
Hi,
Since PF is withdrawn after 3 years quitting my job, I understand it is taxable. But my question is, does it come under salary income or other income. If it is other income then i can offset my non-speculative business loss against it. I feel it is other income since it is not a salary paid for any work. can someone with experiences please share your thought. Thanks. Rajiv.
Since PF is withdrawn after 3 years quitting my job, I understand it is taxable. But my question is, does it come under salary income or other income. If it is other income then i can offset my non-speculative business loss against it. I feel it is other income since it is not a salary paid for any work. can someone with experiences please share your thought. Thanks. Rajiv.
08 July 2016
It is to be shown under 'income from salary' in the ITR. Please see section 17(1) (vi)/(vii).
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