subbu appala (article trainee) (152 Points)
13 July 2023Employee is withdrawn PF before 5 years of service.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
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160870 Points)
Replied 13 July 2023
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.
subbu appala
(article trainee)
(152 Points)
Replied 13 July 2023
employee is exit from office due to software project completed. But software company is running.
Now in this situation taxable or not
subbu appala
(article trainee)
(152 Points)
Replied 13 July 2023
One more doubt
If it is taxable, why it is not taxable under the head salaries.
Sohil khatri
(Business)
(44 Points)
Replied 14 July 2023
EMPLOYER'S CONTRIBUTION = INCOME FROM OTHER SOURCE
EMPLOYEE'S SHARE = INCOME FROM SALARY
PF INTEREST = INCOME FROM OTHER SOURCE
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