income tax on PF withdrawal before 5 yrs
This query is : Resolved
AMIT PAREKH
(Querist)
15 August 2016
Dear Sir,
One of my client, salaried employee, has withdrawn pf before 5 yrs and is taxable as rule 8 conditions not satisfied. Now there is tds of 10% deducted u s 192A, However his income is in 30% slab so is he required to pay remaining 20 %.
This doubt arises as taxable amt is only employers contribution and interest. Also the person responsible for deduction of tax is required to deduct the tax applicable under rule 8
Kindly resolve the amount of tax to be paid by employee
Rohit A Kadam
(Expert)
15 August 2016
The income will be chargeable as Salary and tax has to be paid on the total income as computed after allowing for all deductions as applicable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- TDS on Dashcam rent and allied services
- Urd purchase entry in tally prime
- GSTR-9C filing
- Intimation under section 245
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
