Tds on provident fund settlement
This query is : Resolved
Harsha Manglani
(Querist)
09 July 2013
Is there a liability on the part of Employer to deduct TDS on Provident Fund Settlement if the amount exceeds Rs. 10,00,000/- ? If yes pls tel me the method of Calculation of Such TDS
CMA Ramesh Krishnan
(Expert)
11 July 2013
No. such requirement, PF settlement happens in the department. employer just need to certify the forms
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Harsha Manglani
(Querist)
11 July 2013
Thank you so much, just one last question if the amt is withdrawn from P.F within 5 years of period of service than is there any TDS issue ?
CMA Ramesh Krishnan
(Expert)
11 July 2013
It is taxable, but employer do not have hold on that, because the payment will come directly from department. so there is no TDS issue on that also
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