Provident Fnd Payment

Hello,

I left my previous employer last month and have opted for withdrawl of the EPF money. I worked with last organization for more than 5 years. My questions:

  1. Is the payment received from EPF withdrawl taxable?
  2. If yes, will the PF office deduct tax at source or do I need to show this payment received as income in my ITR and pay tax accordingly?

Please advise.

Thanks

Anks

asked Apr 21 '13 at 18:02 by Anks 462410


  1. As you completed five years in EPF contribution, withdrawal amount won't be taxable.
  2. PF department generally don't deduct TDS due to laziness (have been asked to do so multiple times by IT department). If they don't deduct its employee's responsibility to declare same and pay taxes.

answered Apr 22 '13 at 12:10 by Pankaj Batra 5.2k320

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Asked: Apr 21 '13 at 18:02

Seen: 1,803 times

Last updated: Apr 22 '13 at 12:10