Dear Exprets,
Is there any TDS applicalbe on withdrawal of EPF & What is the limit (if Yes please share notification )
Regards
Maan
4 Replies
Senu Reddy
(ca final)
(291 Points)
Replied 16 June 2016
it will be treated under section 192A and Tds @ 10% if such withdrawl exceeds Rs.50,000/- and no TDS if he is in employment for more than 5 Years
CA Harshal Totla
(Chartered Accountant)
(2229 Points)
Replied 16 June 2016
Hii Mr.Maan, premature taxable withdrawal from accumulated balance of EPF is liable to tds u/s 192A @ 10% if withdrawal amount is more than Rs.50K. Premature taxable withdrawal means that employee is in employment for 5 years or less. If your taxable income is less than maximum amount not chargeable to tax then No tds shall be deducted if you gives declaration in form 15G/15H.
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