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Pradip (Accountant/Management) 28 July 2010
Withdrawal of PF amount is not taxable at the time of retirement but if you withdraw the amount before 5 years duration then it is taxable.
venkatraman shrinivas (Tax consultant/Tax Advocate In Practice.) 28 July 2010
Any withdrawal from Provident Fund is not taxable and is exempt under section 10(11) and 10(12) of the Income-tax Act, as the case may be, depending upon the facts of each case. In the given case it is exempt under section 10(11).