PF amount withdrawal is taxable, if it has been with drawn with in 5 years.......
But in your case the amount is transfered from one account to another account and it withdrawn only after five years, hence its not taxable.........
From India, Madras
3But in your case the amount is transfered from one account to another account and it withdrawn only after five years, hence its not taxable.........
From India, Madras
Checked with someone else, apparently, the taxation rule is as below
(disclaimer - this is from someone else, checked aslo on google, but not from personal knowledge)
for withdrawal of the amount in less than 5 years from opening the account,
1. On own contribution to PF, no income tax
2. Interest on own contribution to PF : taxable as income from other sources
3. employers contribution : taxable as salary
(logically, then, interest on employers contribution also should be taxable as income from other sources)
From India, Mumbai
(disclaimer - this is from someone else, checked aslo on google, but not from personal knowledge)
for withdrawal of the amount in less than 5 years from opening the account,
1. On own contribution to PF, no income tax
2. Interest on own contribution to PF : taxable as income from other sources
3. employers contribution : taxable as salary
(logically, then, interest on employers contribution also should be taxable as income from other sources)
From India, Mumbai
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Provident fund.zip
PROVIDENT FUND.rar
PROVIDENT FUND.doc