Regarding epf withdrawal

Tax queries 617 views 3 replies

Guest

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 But I plan to withdraw it only if the withdrawn amount is 100% tax exempt.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Can you please let me know if the withdrawn amount would be taxable or not in my case?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Also I had withdrawn my complete EPF only once after joining IBM in Aug, 2010.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,

Replies (3)

U S Sharma

glidor@gmail.com

21068 Points Posted on 27 April 2016

after sixty days of leaving service, you can file your withdrawal claim

if all accounts are linked with submission of form 13 then your date of joining would be counted from aug 10, but if account transfer is pending and KYC is not done, / UAN compliance is pending then do it on priority basis,

upto july 2016 govt has relaxed the employees to withdraw their PF ( TDS deducted for less than five years subscribers)

Guest

thank you for your response. On ur the last comment "TDS deducted for less than five years subscribers", is it not true that EPF withdrawal is tax/ TDS exempt for repayment of housing loan?

Plz check the Repayment of Housing Loan section in the below link:

https://www.epfochennai.tn.nic.in/advances_withdrawls.H T M L