Pl note that TDS u/s 192A will be applicable on PF withdrawal at the time of payment from 1.6.2015 if accumulated PF balance is Rs.30,000/- or more with less than 5 years of service. Rate of TDS will be 10% if PAN is submitted, 34.608% if PAN is not submitted or NIL if Form 15G/15H is submitted. Form 15G is for individuals having no taxable income and it cannot be accepted if withdrawal is more than Rs.2.50 lacs. Form 15H is for senior citizens (60 years and above) and cannot be accepted if amount of withdrawal is more than Rs.3 lacs. Detailed circular in this regard is attached for your information.
Tds on withdrawal of pf from 1.6.2015
P C Agrawal (Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad) (8229 Points)
23 May 2015
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