regarding TDS on income from EPF account

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Anurag Kumar (Querist)
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20 July 2010 I have an EPF amount lying with my previous account with one of the employers and have yet not transferred same to my existing account with present employer. Recently I have observed that TDS has been deducted on the income on my EPF account in the last financial year. A form 16A has also been issued by the concerned EPF trust.
Pls let me know
(a) whether I'll now have to show the above income in my IT return as "income from other sources" and hence get it taxed at 30% (which is my slab).
(b) What if now I get the account transferred to my present account, whether the TDS deducted can be refunded back?
I have been in continous employment, the only thing being that the account is not transferred.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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08 August 2010 a.You need to show the income from other sources
b.If the PF transfer to the present employer, the same can be claimed as refund since it is not taxable

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