Dear Sir/ Madam,
One of my client has received EPF amount Rs 4,10,000/- for F.Y- 2015-16. I would like to know that is this amount taxable or is this income under the category of "Exempted Income". He has done 15 years service & company has been closed. If the amount is taxable, then how much would be the Tax... Kindly advise me...
From India, Calcutta
under section 10(11) all the sum received from provident fund is exempt from income tax
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