Employee is withdrawn PF before 5 years of service. That PF amount shown in 26AS under section 192A.
my question is what Is the tax treatment of that PF amount.
Thank you sir
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TAX TREATMENT OF WITH DRAWAL OF PF BEFORE 5YEARS
Replies (6)
Quick Summary
It is fully taxable.
It is fully taxable u/h. IFOS.
But not taxable if employment is terminated due to employee’s ill health\The business of the employer is discontinued\the reasons for withdrawal are beyond the employee’s control.
employee is exit from office due to software project completed. But software company is running.
Now in this situation taxable or not
One more doubt
If it is taxable, why it is not taxable under the head salaries.
Bcoz, it's investment.
EMPLOYER'S CONTRIBUTION = INCOME FROM OTHER SOURCE
EMPLOYEE'S SHARE = INCOME FROM SALARY
PF INTEREST = INCOME FROM OTHER SOURCE
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