Tax implication on PF Pension withdrawl

I have resigned  and withdrawn my PF and Pension amount of 1,67,000 in March 2011. Is this taxable? Do I have to show this amount?

Thanks,

Sneha

Replies (2)

If yu are rendering services for more than 5 years in the current employment, then withdrawal from pension account is exempt u/s 10(12) of the income tax act, 1961.

If u rendered service for less than 5 years in current employment from where u have given resignation and withdraw PF amount after resignation, it would definately become taxable. Further, if you withdraw amount before 5 years of your current employment, your investment in provident fund will be considered as invt in unrecognised provident fund from the begining itself and thus, not only interest but also principal portion of your investment which total comes to INR  1.67 lakhs in your case would become taxable and should get added to you taxable income. 


Hope this solves your query.


Thanks and regards,


Manoj B. Gavali

agree with MANOJ          

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
08 October 2026
Account Executive

Elite Taxation

New Delhi

CA Foundation

View Details
Company
ARTICLESHIP 07 October 2026
Article Assistant

Malhotra Rajesh & Associates

New Delhi

B.Com

View Details
Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details
Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details
Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
22 September 2026
Account Assistant

Chirag P Shah & Co. Chartered Accountant

Pune

B.Com

View Details
Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details