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Good evening there, One of my friend has withdrawn the PF amount for that TDS has done now wat is the consequences because with draw made before 5 completion of years . Where shall I show that with draw amount either at salary or other sources wats the producer can any one guide me
Replies (6)
TDS @ 10% will be deducted by the payer
How I need to show that In deductee File .
First calculate the overall tax liability of the deducted and then subtract the amt. paid as TDS
Deductee*
And if the amt. Which comes after deducting TDS from the overall tax liability is greater than rs 10000 then deductee will be liable to pay tax in previous year itself(advance tax)
And if the amt. Which comes after deducting TDS from the overall tax liability is greater than rs 10000 then deductee will be liable to pay tax in previous year itself(advance tax)
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