Hi
My client is around 55 years. He is leaving India and relocating to USA. Can he withdraw his PF contribution in full from PF account. If not, when can he claim full settlement.
Thanks
Menu
EPF withdrawal at 55 years
Replies (1)
EPF if withdrawn after continuous 5 years of service, is fully exempt at the time of withdrawal.
If a person withdraws at the time of retirement, then it will be exempt from tax.
If a person withdraws before 5 years then the withdrawn become taxable and the amount which was earlier claimed as deduction u/s 80C now becomes taxable.
Recent Topic
- Clarification Needed: Reporting Accrued vs Paid FD
- TDS on prize given to participants in Livestock sh
- TDS related matter - 194 IA
- Research: How do CA firms handle GSTR-2B reconcili
- CA FINAL FR IndAS 33 Illustrtion 14
- Taxation on Sale of old Jewellery Received at Marr
- ITR-3 Filling issues
- PF withdrawal and tax liability
- Sale of Goods or Services?
- ITR form query
Related Topics
CAclubindia
