Master TDS & TCS Provisions with Critical Issues. Register Now!

Itr filing

Deepika (Account) (62 Points)

12 July 2016

Withdrawl of EPF before 5 years ,and tds is deducted and deposited under section 92A as shown in Form 26AS .where do i show this income while filing ITR1??

Reply
Follow
Share

6 Replies

Shubham Gupta (Business Consultants) (2077 Points)
Replied 12 July 2016

Sum received on retirement/ termination comprise of following:Employer’s Contribution and interest there on: Taxable as Salary Income.
Employee’s own Contribution : It is not taxable.
Interest on employee’s contribution: Taxable as income from other sources.

Upgrade to CAclubindia Pro. Subscribe Now!

Deepika (Account) (62 Points)
Replied 12 July 2016

Thank you so much for the reply .

Dinesh Mertiya (PROFESSIONAL) (761 Points)
Replied 12 July 2016

Withdrawal of EPF before 5 years, shall be exempt subject to certain conditions
if certain conditions are not fulfilled then lump sum amount will taxable, under following heads
Payment received in respect of employer's contribution   : under salary
Payment received in respect interest on employer's contribution   : income from other source
Payment received in respect of employee contribution   : exempt

Deepika (Account) (62 Points)
Replied 12 July 2016

Since i am not able to bifurcate the amount as employee and employeer contribution.I only have the consolidated amount as shown in 26As.What do do in this regard?