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| *The Commerce Journal>>>India Taxes |
Query on tax on PF withdrawal? |
I worked in my earlier ogranization between September 2002 and September 2005 ( ie 3 years). I left the company in Sep 2005 and did not transfer or withdrawan the amount. If I withdraw it now (April 2008) , will there be any tax deducted (as i have been in the PF for more than 5 years). If yes, howmuch and on what ie tax on amount contributed or tax on interest earned etc., Appreciate if any reference is also quoted in the answer (ie section of PF act or etc.,) your query is sam like mine.I have also not transferd my PF from my previous compnay and i worked in my preiv company for 4 yrs 6 months and i came to know that if it is not 5 yrs, 30%tax is deducted.My totol experience crosses 5 yrs but not sure how the rules are now.Iam from Hyderabad and tomorrow iam going to PF office to check the details regarding withdrwal.You can mail me at vinnu.trade@yahoo.com |
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