Hello,
I have query regarding realization of provident fund..
employment was started between age of 62 to 65 of foreigner
contribution and interest on provident fund was arise in same period.
hence after realization of that amount.. please confirm how much should be taxable and under which head??
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realization of provident fund
Replies (2)
First of all we need to know which type of Provident fund was realized. in case of Recognised PF, the interest is exempt upto a specified limit (9% Maybe) the contribution is exempt if it is upto 12.5% of salary. in case of unrecognised PF, full amount is taxable.
there is recognized provident fund.. and interest and pf received or withdrawal after 3 year from retirement is taxable
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