Tax on PPF Withdrawal - Reg
Dear Group Members
Have a PPF account for last 11 years and will mature in 2020, Need the expert inputs whether the PPF withdrawal during the maturity will be taxed as per the new announcement in the budget, if so what will be the burden. Also will it be applicable for the deposits that were made prior to the budget.
It is advisable to have a partial withdrawal within the current month to avoid the taxations in future.
Appreciate the reply.
Thanks
Gowri Shankar more
Have a PPF account for last 11 years and will mature in 2020, Need the expert inputs whether the PPF withdrawal during the maturity will be taxed as per the new announcement in the budget, if so what will be the burden. Also will it be applicable for the deposits that were made prior to the budget.
It is advisable to have a partial withdrawal within the current month to avoid the taxations in future.
Appreciate the reply.
Thanks
Gowri Shankar more
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THE EPF MONEY and PPF money should not be touched by the Income tax department. There should be no role of Income Tax department to touch savings of the people in old age.. more
Mar 02
Shocked at Modi Govt. thinking... The budget proposals are a mess for the common man.. The EPF is a savings which hard earned employees save for future. The Finance Minister did not realise that in old age how much pain there is to pay tax on savings , or not withdraw.. ITS LIKE A KNIFE POINTED ON THE EPFO member - you withdraw as GOVT wishes you to..or pay tax.. more
Mar 02
I hope that as per the latest news Tax on the entire 60% EPF withdrawal is going to be amended and either they may make it only 60% of the Interest would be taxed or NIL tax would be applicable, lets hope for the best. more
Mar 02
