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EPF Taxation and ITR revision

403 views 5 replies

Sanjeev

Tax Payer

116 Points Posted on 25 November 2022

Dear Sir,

I've got the employee contribution to EPF, including VPF greater than 2.5 lacs for FY 2021-22. Hence, I need to pay tax on the interest earned on the contribution greater than 2.5 lacs. While submitting the ITR before 31st July 2022, I did some rough calculations and submitted ITR. Now, I see that some TDS is deducted on the interest earned for FY 2021-22 in EPF passbook. Few queries:

1. How can I find the EPF interest income for which this TDS is deducted ? I do not see it in the EPF passbook nor in any form 16, 26AS.

2. How do we fill the ITR-2 form for this EPF interest income ? Need help. As I understand, it should come in income from other sources, but that section itself has many sub-sections. PLeease elaborate.

Regards,

Sanjeev

Replies (5)

sabyasachi mukherjee

Profession Business

28238 Points Posted on 27 November 2022

So it's a wrongbreturn submitted
Send an intimation and file a revised return.

Sanjeev

Tax Payer

116 Points Posted on 27 November 2022

Thanks. I can correct the return only if I know the answers to the following queries::

Q1. How can I find the EPF interest income for which this TDS is deducted ? I do not see it in the EPF passbook nor in any form 16, 26AS.

Q2. How do we fill the ITR-2 form for this EPF interest income ? Need help. As I understand, it should come in income from other sources, but that section itself has many sub-sections. PLeease elaborate.