Regarding pf tds

This query is : Resolved

G.Soundararajan (Querist)
Follow

15 September 2017 SIR,
I WISH TO INFORM YOU THAT, AM A SALARY PERSON I HAVE WORKED FIVE YEARS IN A COMPANY. I AM 54 YEARS OLD. I HAVE COME OUT OF THE COMPANY I GOT PF AMOUNT U/S.192A RS.425736/- . FOR THAT T D S AMOUNT IS DEDUCTED IS RS.42574/- FOR THE ASSESSMENT YEAR 2016-17.

1. THE PF AMOUNT IS 425736 IS TAXABLE OR NOT ?
2. CAN I GET 42574 FULLY CLAIM FOR REFUND OR NOT ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

15 September 2017 1 If you have put five years of service in that company then the PF amount is exempt.
2 In case of less than 5 years of service you can claim only 89(1) relief.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok