06 July 2020
Dear Sir, Good Morning, One of our staff left organisation on 14.03.2020 & she is working as an consultant in our organisation. She has worked for 14yrs in our company. Now, she wants to withdraw Pf (Rs3 lakhs) & pension amt (Rs.1 Lakh).
She need to fill Form 15G. She is a tax payer & filed ITR for fy 2018-19 (Ay 2019-20). Please help me to fill SLNo.17 Estimated total income of the py (ie. Rs.3Lakhs (pf) + Rs.3.33Lakhs(yearly income)=total Rs.6.33Lakhs. (is it right) Please let me know after submission of form15g for Rs.6.33Lakhs whether TDS will be deducted or not. Thanking you,
06 July 2020
No tax payable on PF withdrawal after 14 years of service. Taxable person can't give 15g form. Only it can be given by persons having below taxable income.
CAclubindia
