my friend worked in a company for 4 years and 9 months continuously and changed to other.he had withdrawn pf amount.on this 24000
had been deducted as tds..how to deal with this in it returns.
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epf withdrawn amount
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Payment received by the individual in respect of the employer’s contribution along with the interest accrual thereon is taxed as “salary”. Interest on the employee’s contribution is taxable as “other income”. Payment received in respect of the employee’s own contribution is exempt from tax (to the extent not claimed as a deduction earlier).
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