Receipts from EPFO on retirement

Ramadevi Srinivasan (CA Job) (53 Points)

18 July 2024  

A person withdrew hia balance in EPF account after retirement.  As he did not have 5 years continuous service the EPFO has deducted 10 % TDS.  The amount received was Rs.379,249 after dedciton of Rs.42139 (Gross amount Rs.421388).

He is currently not employed nor receiving any pension income, but interest and dividend income. 

Can we show this amount under the head 'Income from Other Sources' with the narraiton withdrawal from EPF?  The relative line item in  AIS is shown as 'Receipt of accumulated balance of PF drom employer'.  The section for TDS is cited as Sec 192A.

If we show as other income, will the credit of TDS under Sec 192 be permitted?

It is difficult to show as salary for 2 reasons: 1) Details of employers not avaialble - there were 2 employers and we do not have details as they ar every old and cannot be contacted.  Seconndaly, the break up of the amount receeved between principle and interest amount is not avaialble.