PF taxable

I worked in a company for 5 months till Jan 2016 and then left it and joined another company in the same month. While leaving my previous company I applied for PF withdrawal which I got in April 2016 in my bank account. While filing return for the last financial year 2015-16 I claimed deduction under section 80c for my contribution towards pf for my previous job. Kindly tell me is there going to be any problem for me in the future?? If yes what should I do now
Asked 1 year ago in Income Tax from Visakhapatnam, Andhra Pradesh
Dear Sir,

You have to show this amount while filing your return of income for FY 2016-17. Out of the total amount received, your contribution to PF will not be taxable. All other amount will be taxable.

Please feel free to call/revert in case of any issues.

Thanks and Regards,
Abhishek Dugar
CA, CS, B.com
caabhishekdugar@gmail.com
Abhishek Dugar
CA, Mumbai
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Yes, correct.

But can you send me PF settlement statement. Because if you have deposited 9314 then your employer should also have deposited the same amount
Abhishek Dugar
CA, Mumbai
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You must have received three components :

1. Employer share + interest thereon = income from salary

2. Employee share = exempt

3. Interest on employee share = income from other sources.

I hope the above is clear.

Please feel free to call/revert in case of any issues.

Thanks and Regards,
Abhishek Dugar
CA, CS, B.com
caabhishekdugar@gmail.com
Abhishek Dugar
CA, Mumbai
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Sorry i think your question is being answered by my professional colleague
Shyam Sunder Modani
CA, Hyderabad
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Dear Sir,

Either you show the difference in Income from Other Sources or claim the PPF amount under 80C and the amount received under Income from Other Sources.

Trust this clarifies your query. 

Feel free to call back/ get back in case of further clarifications. 

Thanking You. 

Regards,
Rohit R Sharma
BCOM, ACA, LLB-GEN, CERT. FAFP.
Rohit R Sharma
CA, Mumbai
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