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TMI BlogPF withdrawal when taxableX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Sir, Please advise me when PF withdrawal will be taxable. What is the rule. Regards Narendra - Reply By Surender Gupta - The Reply = Pl. see fourth schedule to the Income Tax Act, 1961 dealing with provident fund. - Reply By GOPALJI AGRAWAL - The Reply = 8. The accumulated balance due and becoming payable to an employee participating in a recognised provident fund shall be excluded ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from the computation of his total income— (i) if he has rendered continuous service with his employer for a period of five years or more, or (ii) if, though he has not rendered such continuous service, the service has been terminated by reason of the employee's ill-health, or by the contraction or discontinuance of the employer's business or other cause beyond the control of the employee, 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7 [or] 18 [(iii) if, on the cessation of his employment, the employee obtains employment with any other employer, to the extent the accumulated balance due and becoming payable to him is transferred to his individual account in any recognised provident fund maintained by such other employer. Explanation .—Where the accumulated balance due and becoming payable to an employee participating ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in a recognised provident fund maintained by his employer includes any amount transferred from his individual account in any other recognised provident fund or funds maintained by his former employer or employers, then, in computing the period of continuous service for the purposes of clause (i) or clause (ii) the period or periods for which such employee rendered continuous service under his form ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er employer or employers aforesaid shall be included.] - Reply By DEV KUMAR KOTHARI - The Reply = Dear udit gupta, which Pf you are concerned about. is it with EPFO or a recognized PF , or un recognized PF or PPF. Under what circumstances withdrawal is made. How the withdrawn amount is used. and some relevant information may have to be considered for the purpose of answering query properl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y. Please give full facts and circumstances in which withdrawal is being made. You are having the problem, so you must have at least some relevant information about relevant law- section of particular law, Rules , schemes etc. Share the information and knowledge which you have, then expect some brain storming and discussion. - PF withdrawal when taxable - Query Started By: - udit g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... upta Dated:- 12-10-2010 Income Tax - Got 3 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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