PF withdrawal

[p ratna]

HI,

I have withdrawn my epf money recently. I am unemployed and withdrawn money after completing 6 years of continuous service in 2 organizations in total. one organization I served for 5.1 year and other I served for 1.1 year. I withdrawn money after 2 years of leaving organization and have no income in this financial year.Amount withdrawn is above 5 lakhs. I wanted to know will I be liable to pay taxes on this withdrawn money? Also, are there any other schemes where I can put this money and avoid tax. I stopped getting intrest on pf account as one of my account got dormant and hence withdrawn. Please let me know whether I am supposed to pay taxes on this pf withdrawn amount?

AI Summary

PF withdrawal taxability: whether a lump-sum EPF received after qualifying service and unemployment is taxable and how to avoid tax. Whether a lump-sum EPF withdrawal is taxable where the employee completed six years of combined service across two employers, left employment two years before withdrawing, is currently unemployed, received a withdrawal exceeding five lakhs, and ceased earning interest due to a dormant linked account; the contributor asks about tax liability and investment options to avoid tax.