Hi,
Is income tax applicable on PF withdrawal ..?
I have been working with current employer for more than 7 years. As per my knowledge if your are employee with same company for more that 5 years then income tax is not applicable. Please confirm.
If my understanding is correct then please guide me under which section I should highlight this income while submitting income tax returns to avoid.
Also please confirm the same for Gratuity amount too.
Thanks in advance.
Mahendrra.