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Form 15g help required

TDS 256 views 1 replies

Hello.

I am doing pre-mature withdrawal / closure of PF from my previous company. My previous company PF is registered in TN, current in MH. The previous PF account is almost 3 Years old.

I am supposed to attach Form 15G with the PF withdrawal form, where I am confused what has to be put under estimated income from declaration is made and Estimated total income. The PF account amount from which withdrawal is being done is less than Rs.30000 hence interest will be between 2-3000 Rs. Also, in my current company, I am paying taxes (automatically deducted from salary). So I need to know what should I mention in both the fields in form, or the form shouldn't be submitted at all and let the taxes be cut.

Thank you,

Mrunal Kapadia

Replies (1)

If the PF withdrawal amount is less than Rs 30,000 TDS need not be deducted even when Form 15G is not submitted.

If the Total withdrawal along with interest exceeds Rs 30,000 you can provide Form 15G if your Estimated Income for the Year ( Total Salary Received from both previous and present employer less deducitons available ) is less than the Basic slab.


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