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Exempt income under sec 10 is not part of total income right ??

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murari aiesec

28 Points Posted on 06 March 2020

My query is. As we know exempt income doesn't part of total income. In form 15g regarding PF withdrawal, in column 17 they asking for total estimated income during the financial year, which also includes pf Amt.
My father pension is exempt under section 10. So as per my opinion that exempt income shouldn't part of total estimated income asked in column 17 of 15g form.

I want to fill this form because I don't want deduct TDS on such withdrawal. Service is less than 5 year and pf amt is more than 50000. So TDS is applicable. and pension amt will exceed basic exemption limit.

I can't see option to attach form 15g here. plz see the new form 15g column 17. and suggest me accordingly

Replies (4)

Quick Summary

This discussion clarifies whether exempt income, such as certain disability pensions under Section 10, should be included in the 'total estimated income' field (column 17) of Form 15G when calculating potential TDS on PF withdrawals. The user is unsure if their father's pension, which is exempt, should be added to the PF amount for this calculation. The advice suggests that while some pensions might be exempt, banks typically follow strict guidelines and may deduct TDS unless a specific 'Nil TDS deduction' order is received. It's also noted that exempt income is generally not part of total income, but clarification on the specific wording of Form 15G is sought.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

121543 Points Posted on 07 March 2020

Check properly, Pension is not exempt. !!

murari aiesec

28 Points Posted on 07 March 2020

I have checked my father was in army and disability pension to armed person is exempt

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

121543 Points Posted on 08 March 2020

Not all the part. For more clarification refer the notification attached herewith.

Secondly, bank will obey the directions of the higher authority. So, unless they receive any 'Nil TDS deduction' order from CBDT or any governmental agency, the TDS will get deducted without any doubt.

If you are sure you can claim back the amount as refund, by filing relevance year's ITR.

murari aiesec

28 Points Posted on 08 March 2020

Yes I have gone through this article and 40000 is taxable. so my query is different Sir. in column 17 of form 15g. they asking for total estimated income. so as per my opinion in that column my father's total estimated income will be PF amt.+ 40000 right ?? not all pension amt. Bec other pension amt is exempt. plz clarify this.