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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 I have not withdrawn/transferred my old PF account to my new employer.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?
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?Quote:
Originally Posted by harry1976
Five years in total. To save tax just transfer the amount in the new company's PPF account and withdraw after 5 years.Quote:
This 'five years' is in the same company, you need to work.
No tax on transfer.Quote:
Is transfer to my new company's PPF account is also taxable?