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Jalda Srinivas Rao

Taxability of PF - Withdrawal before 5 years...
I have resigned the job before 5 years and withdrawn my PF amount (1 lakh plus) by submitting 15G/15H. Whether I need to show the amount in ITR. If yes where I need to show. I have seen your video but in that you did not mention the withdrawal of PF after resigning. Please clarify.
Thanks
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Amlan Dutta
If PF is withdrawal less than 5 years it would be taxed as given below.

1.) Employer contribution and interest thereon
Basically, the employer’s contribution and interest thereon would be fully taxable under slary head

2.) Employee contribution and interest thereon

This is the amount contributed by yo...
  • October 9, 2018
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Honey

Taxability of Providend Fund...
Hi Amlan...Please guide me on this.
My wife has housing loan so she takes maximum credit of 80c(Housing loan Interest). my question is can i deposit in her PPF a/c to take credit of 80c in my return what is right process of doing this i.e. Cheque/Cash/online(If needed at the time of scrutiny) Do i ne...
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Honey
Thanks for your reply...what is right process of doing payment in wife's PPF a/c i.e. Cheque/Cash/online(If needed at the time of scrutiny) Do i need to mention this Somewhere in return i.e. wife's PPF or just put the amount figure in 80c exempt income Column.
  • September 29, 2018
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Honey
Thank you so much for guidance.
  • September 29, 2018
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Suraj

Taxability of PF - Withdrawal before 5 years...
Hi Amlan,

We chatted few days back on this topic.
My doubt is;
1) While filing ITR if I put Employer and Employee contribution of PF under Salary and interest from both in Income from other sources, would that be right?
2) 26AS is not available as I haven't submitted PAN while withdrawing PF. I ca....
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Suraj
Hi Amlan, Yes I have seen 2 of your recent videos on PF entry in ITR but wanted to clarify. Great Channel! Thanks a lot!
  • August 31, 2018
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Suraj
Hi Amlan, Good Morning! Just saw your 2 new videos on this topic. Yes most of us would miss out considering 80C benefit already taken before. Thank you once again for your time. Thank you. Will be in touch.
  • September 1, 2018
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Suraj

Taxability of PF - Withdrawal before 5 years...
Hello Amlan,

Earlier this year in Jan I withdrew my EPF amount, from this TDS was deducted(34.608%) as PAN was not updated and also for not completing 05 years of tenure. I would like to claim that TDS amount while filing ITR for this AY as I am not working since last 2 years. I will be filing a nil...
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Amlan Dutta
Q1 - Where do I declare this in ITR form? I understand that I have to mention received EPF amount in ITR form(which section?)

if PF is withdrawal less than 5 years it would be taxed as given below.


Employer contribution towards PF under salary head and rest under other sources

1.) Employer contributi...
  • August 25, 2018
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Suraj
Okay, Thank you Amlan.
  • August 25, 2018
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Ashish jain

Taxability of PF - withdrawing after 5years...
Hi Amlan,

I worked in an organization for 4 yrs but I withdrew my PF only after 5 years. The period between the 4th year & the 5th year I was not working.

The PF amount I've received & upon checking I found 10% TDS has been deducted.

Pls could you let me know where to show the amount of PF recei......
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P Dev

Taxability of PF - Withdrawal before 5 years...
Dear Amlan,
as per ur vdo tutorial, Recognized PF is fully taxable if some1 withdraws d balanced before 5yrs of continuous service. howevr my ex employer told me tat only the portion of employer's contribution +interest is taxable. can u plz clarify this?thnx in advance
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Prashanth

Taxability of PF - withdrawing after 5years...
Hi,

I worked in a government job for around 35 years and retired last year. I have received a lumpsum amount from my GPF(General Provident Fund) and I need to declare it in my IT Returns. I see that there are three categories of PF under section 10
Statuatory PF,
Recognized PF,
Unrecognized PF.

Could you...
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Amlan Dutta
You have to get it checked from your company finance officer ........it would be either statutory or recognised PF ..........Statutory Fund is mainly meant for Government/University/Educational Institutes (affiliated to university) employees ..As far as recognised PF goes , this scheme is ap...
  • July 19, 2018
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Harsh Kumar

Taxability of PF - Withdrawal before 5 years...
Hello sir,
I received Employee providend amount rs. 314536, and an amount of rs. 31454 was deducted as TDS(as EPF was withdrawn before 5 years of completion of service) ... Its being shown in form 26AS.. now problem is... Where to show this amount in ITR-1, Please help
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Amlan Dutta
PF withdrawal is taxable if service is not rendered continuously for at least 5 years.

If the recognised PF is transferred to another employer, the new employer’s period of employment is also included to calculate the continuous period.

There are four parts to any PF contribution—employer contribution...
  • July 17, 2018
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P Dev
thnx Amlan for dis info.when i club this withdrawn amount wit my gross income, the tax is increased to a huge amount and the slab gets leveled up from 20% to 30% and also extra interest charges are also added up. dis might nt hav happened if i got the PF balanced earlier. i got d pf balanced lately...
  • July 26, 2018
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Harsh Kumar

Taxability of PF - Withdrawal before 5 years...
Hello sir,
I received epf amount rs. 314536, and an amount of rs. 31454 was deducted as TDS(as epf was withdrawn before 5 urs of completion of service) ... Its being shown in form 26AS.. now. Problem is... Where to show this amount in ITR-1, Please help
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Amlan Dutta
Select question category correctly first else entry itself shall be deleted from this site.
  • July 16, 2018
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Amlan Dutta
PF withdrawal is taxable if service is not rendered continuously for at least 5 years.

If the recognised PF is transferred to another employer, the new employer’s period of employment is also included to calculate the continuous period.

There are four parts to any PF contribution—employer contribution...
  • July 17, 2018
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