EPF WITHDRAWAL TAXABILIT

Hi All

How EPF withdrawal will be taxable if less than 5 years of service (actually more than 5 years but 2 different UAN is created.)

1 rate of tds?

2 How to show in ITR?

3  Which part will be taxable?

4 How to calculate tax i.e. as per contribution year wise or as per withdrawal year?

5 How to file 15G/H?

 

THANKS

 

 

Replies (4)
Quick Summary
This discussion addresses the taxability of EPF withdrawals, particularly when an individual has more than five years of service but has used multiple UANs. It explores TDS rates, how to declare EPF withdrawals in Income Tax Returns (ITR), which portions are taxable, and the correct method for tax calculation. The thread also touches upon filing Form 15G/H and provides links to resources for reporting EPF contributions and withdrawals in ITR forms.

Here is a way to begin,

https://economictimes.indiatimes.com/wealth/tax/do-i-need-to-include-the-withdrawn-epf-proceeds-in-itr-after-leaving-the-job/articleshow/77192916.cms?from=mdr

This link describes how to make such entry in the ITR2 form:

https://economictimes.indiatimes.com/wealth/tax/new-itr-forms-ask-for-year-wise-pf-contribution-details-in-case-of-taxable-withdrawal/articleshow/65715645.cms?from=mdr

If EPF is being withdrawn after 5 years of contribution;

https://economictimes.indiatimes.com/wealth/tax/how-to-report-tax-exempt-incomes-in-itr-1/articleshow/69630173.cms?from=mdr

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