Tuesday, June 5, 2018
by
Indian Real Estate News
Taxation of EPF withdrawal
The EPF withdrawal will be taxed as income and you need to include it in your ITR under the head 'Income from Salary'
There is no TDS deduction on your wife's PF withdrawal as she has completed 5 years. The EPFO will deduct tax on source (TDS) only if an employee fits the following two criteria:
1. The EPF withdrawal amount is less than 50000
2. The employee has not completed total 5 years of continuous service and the EPF withdrawal amount is more than 50000.
Yes, the EPF withdrawal will be taxed as income and you need to include it in your ITR under the head 'Income from Salary'.
For further information contact SaveTaxGetRich on 94 8300 8300
OR
You can write to us at
Invest [at] SaveTaxGetRich [dot] Com
OR
Call us on 94 8300 8300
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