Salary - taxation query

No Need to onsider teh PF for your tax liability, as the proceeds of PF are tax free.

Regards the liabilty for 2012-13, the total income is above the exemption limit i.e 260000(360000-15000-85000).  You would be requried to make additional investments of 60000 or you will need to show some expenditure to being down you income below 2lacs.

does the amount of 360000 mentioned also includes the PF balance withdrawn? if that is teh case then you wont have to pay any SA tax.

If the person had not completed five years of continuous PF membership before leaving the job, interest earned and employer contributions is taxable in the year of receipts, he may require to pay self assessment taxes or show some expenditure as advised my Mr.Giridhar.