Has anyone practically dealt with a scenario where an individual withdrew the amount lying in the PF account before 5 years ?
If yes, how to show the treatment in the income tax return form where say for eg, Rs 10 was the Employer Contribution and Employee contribution respectively..Interest earned on such contributions was Rs 2 each..Further, during the years of contribution, the individual was in the 20% tax slab rate..However, during the year of withdrawal, the individual is below taxable limit..Thanks in advance..
CAclubindia
