PDA

View Full Version : Withdrawal the PF amount is taxable?



AalokM
28-03-2010, 08:21 PM
I am working in Pvt. insurance company. In July 2009, I have resigned from my previous organisation after working there for 4.5 years and joined present organisation. I have not withdrawn/transferred my old PF account to my new employer. Now I am in need of money, so wants to withdraw my old PPF money. Query - If I withdraw the PF money now, do I need to pay tax on it?

harry1976
28-03-2010, 08:44 PM
If you are withdrawing the PPF amount after 5 years than it is tax free.

AalokM
28-03-2010, 09:18 PM
If you are withdrawing the PPF amount after 5 years than it is tax free. This 'five years' is in the same company, you need to work. Is transfer to my new company's PPF account is also taxable?

harry1976
28-03-2010, 10:39 PM
This 'five years' is in the same company, you need to work.
Five years in total. To save tax just transfer the amount in the new company's PPF account and withdraw after 5 years.


Is transfer to my new company's PPF account is also taxable? No tax on transfer.