PF under Section 80C

I had joined a job in previous financial year and left due to health concern. I had issued form 16 with TDS by employer with 80c exemption provision of PR Rs 52000/=.While I had withdrawn the PF in the same financial year, thereafter another Form 16 with TDS issued by PF office. I have to file income tax return based on both form 16s.
My question is that the Rs 52000 PF exemption under 80c as stated in Form 16 should remain inexemption mode or should be included in income,while filing income return.
Asked 1 year ago in Income Tax from Bhopal, Madhya Pradesh
In the present case you can claim the PF amount in 80C. The amount you have withdrawn will again be taxed.

If you dont take in 80C and declare the PF withdrawl amount as income then there will be double tax of the same income.

In the Form16 issued by PF office it includes amount contributed by Employer also.
Shyam Sunder Modani
CA, Hyderabad
955 Answers
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It should be in 80C only.
Shyam Sunder Modani
CA, Hyderabad
955 Answers
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Thanx
Shyam Sunder Modani
CA, Hyderabad
955 Answers
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You can send your form 16 and other details to modani005@gmail.com so that we can calculate and give you. It means the same only , we will send u computation and you will understand better
Shyam Sunder Modani
CA, Hyderabad
955 Answers
4.9 on 5.0
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thanx
Shyam Sunder Modani
CA, Hyderabad
955 Answers
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Since you have withdrawn P F in the same financial year, you may not claim deduction u/s 80C in respect PF amount deposited and withdrawn that is advisable  It is presumed that you have withdrawn within 5 years.
Vijay N. Kale
CA, Hyderabad
248 Answers
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This query seems to be addressed to other CAs.
B Vijaya Kumar
CA, Hyderabad
290 Answers
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Send ur details again
Shyam Sunder Modani
CA, Hyderabad
955 Answers
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The company contribution will be taxable in the year of receipt and there will be no relief u/s 89 for such amount.
Vijay N. Kale
CA, Hyderabad
248 Answers
4.9 on 5.0
  Talk to Vijay N. Kale
This query seems to be addressed to other CAs? 
B Vijaya Kumar
CA, Hyderabad
290 Answers
5.0 on 5.0
  Talk to B Vijaya Kumar
computed again and answered the query
Shyam Sunder Modani
CA, Hyderabad
955 Answers
4.9 on 5.0
  Talk to Shyam Sunder Modani

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