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Shriya

Taxability of PF...
Hello Amlan,

Thanks a lot for taking this initiative to educate the people in need, that too for free.
I have a question about VPF.
I understand that PF withdrawal is tax exempted after 5 years and VPF is the voluntary contribution by the employee, over and above the statutory limits of PF contributio...
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Amlan Dutta
The voluntary provident fund contribution that you intend to make along with the PF contribution form a part of the total Employee provident fund (EPF)corpus and any eligible PF ( withdrawal after 5 years of continous service ) shall be totally tax free( including interest on such amount) ...... ...
  • December 9, 2018
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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I have resigned the job before 5 years and withdrawn my PF amount (1 lakh plus) by submitting 15G/15H.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 PF...
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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Satya Prasad Sahu

Taxability of PF - withdrawing after 5years...
PPF Withdrawal and tax implications: Had an EPF account from Dec 2011. EPF was with EPFO regional office. I joined another company("B") in Aug 2014 which has Trust. I did not transfer the EPF to Trust. So my UAN account displays 2 PF accounts. From Company-B, I came on deputation to USA for project ...
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Ashish jain

Taxability of PF...
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.

Please could you let me know where to show the amount of PF recei...
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Amlan Dutta
Since, there is no continuous service period of 5 years here ,so here the PF withdrawal which is done even after 5 years is taxable A. Income breakup portion

It would be taxed as given below.

1.) Employer contribution and interest thereon
Basically, the employer’s contribution and interest thereon wo...
  • November 27, 2018
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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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Yash S

Taxability of PF...
Hi Amlan,

I worked for a company from Feb 2011 to July 2014 and then switched to another company however did not withdraw or transfer my provident fund money in 2014. Currently In Nov 2017 i withdrew my that Provident fund account money before rendering 5 years of continuous service. Could you please...
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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 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
Here PF is taxable since withdrawn before 5 years of continuos service ....the tax treatment shall be as follows 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 f...
  • November 27, 2018
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Amit Gupta

Taxability of PF - Withdrawal before 5 years...
Sir..I worked in a pvt org for 2 years. Currently working in a psu. i withdrew my epf amount which was more than 50k. i also paid tax on the same. i want to know whether full withdrawn amount to be shown under income from other sources head or is there any break up under diff heads. Also do i need t...
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Amlan Dutta
Since PF withdrawn before 5 years of continuous service and since PF amount is more than 50,000 Rs so it is taxable and TDS must have been deducted ...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 contri...
  • November 27, 2018
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