When should I withdraw my EPF so that I dont have to pay income tax ?

POSTED BY Finance Student ON February 26, 2014 8:59 am COMMENTS (2)

1. I have left the company 2.5 years back and I have not yet withdrawn my EPF. When should I withdraw it to avoid taxation??  I heard after 5years  it is tax free.

The next comp I have joined and after leaving that also it is 1.5 years over and I have withdrawn the EPF of the  later company. Is that taxable again for this FY?

In other issue, The refunded money received from  Office mediclaim again would be taxable?

2 replies on this article “When should I withdraw my EPF so that I dont have to pay income tax ?”

  1. ashalanshu says:
    February 27, 2014 at 12:57 am

    Dear finance student, as you have already withdrew the 2nd EPF, which was already taxable, now your 1st EPF is also taxable.

    Thanks

    Ashal

    Reply
  2. curiousraj says:
    February 26, 2014 at 3:48 pm

    Hi,

    Regarding the company which you left 2.5 years ago – if your joining date to that company is more than 5 years now then you can withdraw it without worrying about tax.

    Regarding the company which you left 1.5 years ago – It is taxable.

    Money refunded from Medical Insurance is not taxable.

    – curiouslogic.in

    Reply

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