Section 10(11) or 10(12) of exempted income

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Amount withdrawn from EPF account after retirement, it is exempted income.

Which section to use to report this under exempted income in ITR1 section 10(11) or 10(12).

Please guide on this.

 

Replies (4)
Quick Summary
This discussion clarifies how to report EPF withdrawals made after retirement as exempted income in the ITR1 form. The consensus is to use Section 10(12), specifically for withdrawals from a Recognised Provident Fund after five years of service. This guidance aims to resolve common doubts for taxpayers.

For EPF withdrawals after retirement (after five years of service), select Section 10(12) Recognised Provident Fund received in the exempt incomes section of ITR1.

Thank you Dhirajlal ji,

I was in doubt since so many days, now got the very clear reply.

As always, your replies are precise.

You are welcome.             

@ Manoj Punjabi

Dhirajlal Ji will always provide short, sweet and helpful guidance.

You must show your appreciation by clicking on LIKE

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