Dear Sir/ Madam,
One of my client has received EPF amount Rs 4,10,000/- for F.Y- 2015-16. I would like to know that is this amount taxable or is this income under the category of "Exempted Income". He has done 15 years service & company has been closed. If the amount is taxable, then how much would be the Tax... Kindly advise me...
Regards
Abhishek Bag..
I agree with Tanush. Since 15 years of service has been rendered, such income would be exempt from tax liability. You may claim refund of tax (if any) deducted at source.
Thanks to Mr. Tanush & Miss Poornima Madhava..
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