Query on withdrawals from RPF. . . . . . .

This query is : Resolved

Ravi Mehra (Querist)
Follow

27 June 2011 Does Accumulated employee's part of contribution in RPF taxable. . .
in case withdrawals has been made before completion of 5 year of services
and
within the circumstances under control . . . . . ..?
If No. . . .Reason ?
If Yes. . . .under which head such income shall be charge ?

Sincere replies would be appreciable. . . .
if you can provide any link that would be really commendable.
.
Thanks & Regards
Ravi Mehra

U S Sharma

U S Sharma (Expert)
Follow

27 June 2011 Provident fund is treated under sec 80C, withdrawl within 5 years entitles the amount received in previous year added to taxable income and taxed as per slab.

Ravi Mehra

Ravi Mehra (Querist)
Follow

27 June 2011 Income under which head sir ?

Ravi Mehra

Ravi Mehra (Querist)
Follow

27 June 2011 I need clarification on tax implication over following four parts
"In over written circumstances". . . . . .
1. Acc Employee Contribution
? ? ?

2. Interest on Employee contribution
" Other Sources"

3. Acc Employer Contribution
"Income under the head Salary"

4. Interest on Employer contribution
"Income under the head Salary"

CA SANKAR 07904743649

CA SANKAR 07904743649 (Expert)
Follow

28 June 2011 Not taxable . Eligible for 80 C deduction

CA. Krishna K Neeraj

CA. Krishna K Neeraj (Expert)
Follow

28 June 2011 Employer's Contribution and interest thereon: Taxable as Salary Income.

Employee's own Contribution : It is not taxable. 80C EXEMPTION WILL BE WITHDRAWN

Interest on employee's contribution: Taxable as income from other sources.

Ravi Mehra

Ravi Mehra (Querist)
Follow

28 June 2011 Thanks you all guyz for your concern
:)
Mr. Neeraj. . . .

Sir
i have an doubt on exemption of Employee part of contribution. . .

Sir once we had already been taken its exemption at earlier. .now is it logical to exempt it again ?