Provident Fund Withdrawal
This query is : Resolved
Dinesh Dhariwal
(Querist)
27 October 2009
Can anyone please tell me how to calculate tax in the following scenario:
I left a company after working for 2 years and decided to withdraw amount from my PF. I received around INR 1.49 lakhs (total 2.15 lakhs less TDS @ 30% i.e INR 0.66 lakhs). I don't have the bifurcation of total amount of INR 2.15 lakhs. How shall I calculate my tax liability since the total amount included mine as well employer's contribution (employer's contribution already taxed). I thought of adding deductions on account of PF I have claimed u/s 80C in previous years and taking it as my income and calculate tax accordingly.
I left a company after working for 2 years and decided to withdraw amount from my PF. I received around INR 1.49 lakhs (total 2.15 lakhs less TDS @ 30% i.e INR 0.66 lakhs). I don't have the bifurcation of total amount of INR 2.15 lakhs. How shall I calculate my tax liability since the total amount included mine as well employer's contribution (employer's contribution already taxed). I thought of adding deductions on account of PF I have claimed u/s 80C in previous years and taking it as my income and calculate tax accordingly.
CA SANJAY MUKHERJEE
(Expert)
27 October 2009
ask for details from your previous company.
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