I plan to prepay some portion of my home loan EMI from my EPF corpus.
Now that I have resigned from my recent org. and am no more working so I am eligible to withdraw my EPF. But I plan to withdraw it only if the withdrawn amount is 100% tax exempt.
My understanding is that there are some rules governing this.
Can you please let me know if the withdrawn amount would be taxable or not in my case?
Below is my service/ job history that may be required for this purpose:
· Worked at J.P. Morgan and Chase Bank India from July’ 13 to 20 April'16
· Worked at Syntel India from May’13 to July’13
· Worked at Emerson India from Oct’12 to Dec’12
· Worked at IBM India from Aug’10 to Oct’12
· Worked at Infosys from July’04 to Aug’10
Please note that there has been only 1 gap of almost 4 months (between Emerson and Syntel) during my service tenure.
Also I had withdrawn my complete EPF only once after joining IBM in Aug, 2010.
thanks,
CAclubindia
