Taxability of pf
This query is : Resolved
Gaurav Mittal
(Querist)
13 April 2015
I working only 1 year in service after a year I resign from service and started a business, my question is I have a Rs 20 lakh in my pf account it is taxable when withdraw before 5 years continuous of service is there any tax planning to save my Rs 20 lakh from tax..
Vineet Goyal
(Expert)
13 April 2015
You can deposit amount withdrawn to PPF to the extent of INR 1.5 lacs to save taxes but on balance you will have to pay tax.
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