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Withdrawal from PF

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(Querist)
29 December 2008 I have worked for 18 years continuously with a PSU and have withdrawn my entire PF accumalation on switching to a new job. Is this amount taxable and should I include this in my annual return?
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bharathy77

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bharathy77 (Querist)
29 December 2008 tax on pf withdrawal
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C A GROUP COACHING

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C A GROUP COACHING (Expert)
30 December 2008 NO
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
30 December 2008 PF withdrawal is not taxable only if a person has been in continuos service for 5 years. In your case, you have completed 18 months of continuous service only as such the amount withdrawn is taxable.
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K V Subba Rao

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K V Subba Rao (Expert)
31 December 2008 Not taxable

Ref: Note-3 to Para-17 in Page A-47 of 31st edition of Singhania's Direct Taxes Ready Reckoner
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