Is PF withdrawl Taxablle for a compay i had worked for 7. 6yrs- Pls help in building my understanding on this

[Harish Dahiya]

Hi ,

I have just withdrawn my PF... from one of my previous employer that i worked for 7.6 yrs ( Dec99 to June'2007)

Got the payment of around 4 lakhs . just wanted to check ..will this amount be taxable ? if yes then how much if no then what are the condition /clause where PF is exempted from taxes

Is this exemption available for PF withdraw only once in lifetime with tax ?

 

Is partial payment/ full payment  while retiring is exemptable from tax .....

 

regards

Harish

 

 

 

AI Summary

PF Withdrawal Tax-Free After 5 Years of Service: Clarification on Tax Implications for 7.6-Year Employee A user inquired about the tax implications of withdrawing Provident Fund (PF) after working for 7.6 years with a previous employer. They received a payment of around 4 lakhs and sought clarification on whether it is taxable. A respondent clarified that PF withdrawals are exempt from tax if the employee has completed more than five years of service. This exemption applies each time an individual meets the five-year service requirement, and is not limited to a one-time exemption.