Provident Fund

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My query is - A person withdraws amount from his EPF after 10 years but he is not retired yet. what is taxability of the transaction

AI Summary

EPF Withdrawal After 10 Years: Not Taxable if Over Five Years of Service, Employer's Contribution Taxable if Under Five Years. A query was raised regarding the tax implications of withdrawing from an Employee Provident Fund (EPF) after 10 years of service, despite not being retired. One response clarified that such a withdrawal is not taxable if the individual has completed more than five years of service. Another response added that withdrawals from an approved provident fund are generally not taxable, but the employer's contribution is taxable if the withdrawal occurs within five years of service.