PF Withdrawal under which head

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65 Points Posted on 07 July 2022

PF Withdrawal if done before 5 years of service is taxable.
Withdrawal is done from employee share and was earlier claimed u/s 80C
So now it will be taxable under head salary
But where in salary?
17(1) or 17(3) ,also which sub head?
ITR 2 is being filled.

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On 07 July 2022 at 14:27 Report
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Quick Summary
This discussion clarifies the correct head for reporting PF withdrawals made before completing five years of service, which are taxable. The consensus is that such withdrawals should be declared under the 'Salary' head in ITR-2, specifically under Section 17(1). While it was previously claimed under Section 80C, the taxable portion now falls under salary income.

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CFO- at NHTF
58280 Points Posted on 07 July 2022
17(1) only
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On 07 July 2022 at 18:52
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ca.umesh11@gmail.com
1465 Points Posted on 09 July 2022

You may Add separate head

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On 09 July 2022 at 08:31
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CFO- at NHTF
58280 Points Posted on 10 July 2022
It's salary only and you have to consider it under section 17(1) there is an option of pension
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On 10 July 2022 at 10:22

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