Is PF withdrawal taxable at normal rates or some special rates? Where and how it should be shown in ITR?
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Taxability of PF withdrawal
Replies (3)
Quick Summary
PF withdrawal within 5 Years is Taxable and TDS will be Deducted by the PF authority. It is to be shown under head Income from Salaries
I think only employer's contribution is to be shown as salary income. Remaining as income from other sources... Am I correct?
There is a row in Income from other sources - where incomes chargeable at special rates comes (Part 2). There is a specific place (2c) where Accumulated balance of PF taxable u/s 111 is to be given - what is that for? Do we need to show employee contribution and interest thereon under that?
Can someone please clarify?
If withdrawn by you before 5 yrs- yes it is taxable. otherwise case it is exempt.
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