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Receipt of Provident Fund

Raj Thakkar (ARTICLE) (374 Points)

31 July 2022

What will be the tax treatment of amount of provident fund received after retirement? How to disclose the same in income tax return?Plz guide.

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5 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160835 Points)
Replied 31 July 2022

tax-on-provident-fund

pf-balance-withdrawal-incometax

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Raj Thakkar (ARTICLE) (374 Points)
Replied 31 July 2022

Thank you sir for your reply. I read the article. Just to confirm so assessee is not require to disclose amount of PF received after retirement anywhere in IT return. Am I right sir? Plz guide.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160835 Points)
Replied 31 July 2022

Better to disclose in Schedule 'Exempt Income'...

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Raj Thakkar (ARTICLE) (374 Points)
Replied 31 July 2022

Thank you sir for the reply. Kindly guide PF amount received from EPFO will be considered under section Section 10(11) for Statutory Provident Fund or Section 10(12) for Recognized Provident Fund.?