Receipt of employ provident fund amount
This query is : Resolved
17 July 2015
Hello Experts.
Kindly guide me about the following topic.
Mrs. A was working in Reliance Communications Ltd. She received surplus amount of employee provident fund after retirement. Is such receipt taxable or not?
Kindly guide me about the following topic.
Mrs. A was working in Reliance Communications Ltd. She received surplus amount of employee provident fund after retirement. Is such receipt taxable or not?
17 July 2015
Receipt of PF after retirement is exempted from income tax.
17 July 2015
ok sir,
In the above case of Mrs A the Company i.e. Reliance Comu. ltd has deducted TDS u/s 192 on payment of EPF. So now should i take Income of EPF in her ITR as Exempt income ? And if yes then please guide me under which section ?
In the above case of Mrs A the Company i.e. Reliance Comu. ltd has deducted TDS u/s 192 on payment of EPF. So now should i take Income of EPF in her ITR as Exempt income ? And if yes then please guide me under which section ?
17 July 2015
TDS not applicable on final settlement of PF. You are saying it as surplus amount, if it is paid over and above the amount available in her PF account then it may be treated as salary and tax paid on it.
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
- Itr 1 processing
- Reporting Income under Section 44ADA
- Building and other construction workers welfare cess act 1996
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Bank Accounts in Balance Sheet for ITR 3
- TDS ON CASH WITHDRAWALS...
- Article ship defecit
- Form 10BD Filling
- Registration as Authorised Representative of minor
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- Delisted shares sold in off market/ Rebate u/s87A
- Error whiling application of GST REFUND (ANNEXURE B)
- While filing GSTR9 accountant couldn't entered the ITC values in Table 6, in 9C it is not accepting
- 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
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
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
