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TDS on PF withdrawn

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This query is : Resolved

Saurabh Agarwal (Querist)

10 June 2011 What is the Rule for deduction of TDS,in case PF is withdrawn from provident fund trust, in case an employee has served in that company for 3 years.

Is TDS deductible in such case?

If yes on what amount & at what rate ?

CA Suresh Jain

CA Suresh Jain (Expert)

11 June 2011 As per Section 194A. (1) Any person, not being an individual or a Hindu undivided family, who is responsible for paying to a resident any income by way of interest other than income by way of interest on securities, exceeding Rs. 5000/- in a year, shall at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon at the rates in force.Sureshjain.nj@gmail.com

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