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Financial Planner - Answered on Nov 27, 2020

Asked on - Nov 27, 2020Hindi

I have worked continuously in one organization for ~ 32 yrs having its own PF trust and left job at the age of ~ 54 yrs. I have withdrawn MY PF at the age of ~ 59 Yrs. My query is whether PF withdrawn (app. 35 lakhs) at the age of 59 yrs after leaving 5 yrs of job is taxable or not?

FYI,

1. My organization has not deducted any TDS when PF was withdrawn at the age of 59 yrs
2. I was not employed after leaving job at the age of ~ 54 yrs as employee anywhere.

Ans: Since, you have worked for more than 5 years in the organisation, there is no tax on PF interest upto the period you were employed.Interest on PF is taxable after this period.

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