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PF withdrawal, Income Tax

Issue Id: - 115108
Dated: 22-6-2019
By:- p ratna

PF withdrawal

Contents

HI,

I have withdrawn my epf money recently. I am unemployed and withdrawn money after completing 6 years of continuous service in 2 organizations in total. one organization I served for 5.1 year and other I served for 1.1 year. I withdrawn money after 2 years of leaving organization and have no income in this financial year.Amount withdrawn is above 5 lakhs. I wanted to know will I be liable to pay taxes on this withdrawn money? Also, are there any other schemes where I can put this money and avoid tax. I stopped getting intrest on pf account as one of my account got dormant and hence withdrawn. Please let me know whether I am supposed to pay taxes on this pf withdrawn amount?

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