Where to Show PF Withdrawal in ITR?
If you have withdrawn PF before completing 5 years of continuous service you will be liable for some tax implications. It’s good that you asked where to show PF withdrawal in ITR. Let me clarify right off the bat that PF withdrawal post 5 years of continuous service is tax free.
Jumping right into ITR part, well this is what you need to do:
- Show the principal amount under ‘Income from Salary’ tab as it is taxable there.
- Interest on employer’s contribution is taxable under ‘Income from Salary.’
- Interest on the employee’s contribution is taxable under ‘Income from Other Sources.’
Depending on your income, you will have to report this in either ITR 1 or ITR 2.
If TDS has been deducted you can claim it in Form 26AS and reflect it in the ‘Taxes Paid’ section.
Hope this helps 