Post-retirement EPF interest is taxed

Though the post-retirement interest income earned on EPF will be taxed, discuss with an advisor before withdrawing the amount

My friend Ajay had retired in early 2016. He had a substantial amount lying in his Employee Provident Fund (EPF) account which he decided to continue keeping there on the advise that he could continue to earn a tax-free interest of around 8.65 per cent for at least three years after retirement. 

In September, he read in newspapers that the interest payable on his EPF account, after employment, would be taxable as per a court decision. I had also read the same report and checked out the tribunal decision. Here are a few facts: The decision was in respect of an