An assessee belongs to pay 20% tax slab. But in A.Y. 2015-16 he withdraws the amount of PF Rs. 331760/- from earlier employer, and TDS on the same is deducted Rs. 8421/- only.
what will be the tax effect of this transaction??
please help
dhanashri (Accountant) (156 Points)
23 August 2015An assessee belongs to pay 20% tax slab. But in A.Y. 2015-16 he withdraws the amount of PF Rs. 331760/- from earlier employer, and TDS on the same is deducted Rs. 8421/- only.
what will be the tax effect of this transaction??
please help
Udgam Koomar
(Tax Technologist)
(1949 Points)
Replied 23 August 2015
Please check if the PF was for 5 yr employment or more...... You can check these links /experts/implications-of-income-tax-on-pf-withdrawal-1002299.asp and /forum/query-related-to-tax-on-pf-withdrawal-330125.asp
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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