A person having age of 53 years joins the job in F.Y. 2007 his PF is deducted for F.Y. 2007-08, 2008-09.& 2009-10 , changes the JOB in 2009-10 stops PF deduction , He has taken deduction in sec 80 C for year 2007 to 2010
In case he withdraws PF in year 2010-11 will it be added in his taxable income for year 2010-11
| Originally posted by : ARVIND BHANSALI | ||
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A person having age of 53 years joins the job in F.Y. 2007 his PF is deducted for F.Y. 2007-08, 2008-09.& 2009-10 , changes the JOB in 2009-10 stops PF deduction , He has taken deduction in sec 80 C for year 2007 to 2010 In case he withdraws PF in year 2010-11 will it be added in his taxable income for year 2010-11 |
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it would get added to taxable income in the year of withdrawal,
at the age of 53 he joins the PF scheme, was not he member of PF in any earlier servoce, if yes then there was so much option to add the new service to previous to complete 5 years, however the bad part is that below 5 years of complete service, PF deduction is not eligible for tax purpose.
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