Please find attached the findings of case law, for the subject cited above. Thanks, Vidyadhar Bhat
From India, Pune
From India, Pune
Dear All,
As per the case law, if a member has not withdrawn the PF amount upon cessation or retirement, the interest earned on the balance of the PF account will be taxable. Until the relationship between the employer and employee exists, the contributions and interest are exempt on PF for income tax purposes. Members will be required to declare this income in their return every year and pay the tax.
Thanks, Vidyadhar Bhat
From India, Pune
As per the case law, if a member has not withdrawn the PF amount upon cessation or retirement, the interest earned on the balance of the PF account will be taxable. Until the relationship between the employer and employee exists, the contributions and interest are exempt on PF for income tax purposes. Members will be required to declare this income in their return every year and pay the tax.
Thanks, Vidyadhar Bhat
From India, Pune
Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.