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receipt from provident fund
At the time of retirement if an assesse receive amount from provident fund, then is it necessary(compulsory) to show that amount in ITR or not?
Replies (6)
Very much compulsory....... there are options available under Schedule EI for its exemption ...
Thank you sir for your reply, so full amount is exempt?
tax-treatment-of-provident-fund
tax-on-provident-fund
info/retirement-benefit
Thank you very much sir for your reply, above links are very helpful... Sir please help me with my query i.e. 1)can we consider EPF as RPF or it should be disclose in ANY OTHER part? 2) while disclosing receipt from PF in itr is it require to bifurcate principal & interest amount?
1. Its generally RPF, but check your statement.
2. Yes, if any part is taxable.
Thank you very much sir for your reply, so if any part of interest is taxable then we are supposed to report it under IFOS and rest exempt part with principal is to be shown under exempt part of PF, Right? Just confirming?
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