i am going for further studies and taking off form my current job. I have applied to refund my PF that i have deposited from last 4 years of my Job. Do i have to pay Tax on it?
How much tax do i have to pay??
Is their any way to reduce the payment
2007-06-04 02:49:50 · 4 answers · asked by gaurav_dt 1 in Business & Finance ➔ Taxes ➔ India
I am using this money for my further studies, not investing anywhere
2007-06-04 16:23:15 · update #1
PF savings as such, is non taxable! But later, when you have income generated from that amount of savings, that income is taxable! You invest that amount in education, for fees, books etc., that amount is spent up as expenses; no problems with that!
2007-06-04 21:20:21 · answer #1 · answered by swanjarvi 7 · 0⤊ 0⤋
No tax is deducted at source. But if you invest this money in something and make an income then that income is liable to income tax
2007-06-04 09:58:44 · answer #2 · answered by BOND_BOND2001 3 · 0⤊ 0⤋
no tax at all
2007-06-04 10:44:10 · answer #3 · answered by delta 7 · 0⤊ 0⤋
No.
2007-06-05 06:40:11 · answer #4 · answered by guha j 1 · 0⤊ 0⤋