I have to file ITR for this assessment year. During filing there is getting additional tax as of around 20,000/-. Following is my case:
Joined Company A on 21st June 2004 , Left Company A on 25 July 2006. New PF A/c opened
Joined company B on 1Aug 2006 left Company B on 20th July,2007. New Pf A/c opened
Joined Company C on 23 July 2007 and left Company C on 12 June, 2009. New Pf A/c opened and got transferred PF Amount of Company A and B in C.
Company C is having their own PF Trust.
Got withdrawl Total PF from Company C
Following are the contents of TDS Certificate got from Employer C:
Employer Ccontribution from 2007-2009: 40861.00
Interest on Employer's contribution from 2007-2009: 4439
Interest on members' contribution from 2007-2009: 6295
Total income to be added to current year's income: 51595
TDS thereon: 10320
Education cess:310
Total 10630
Contribution made by employees [REBATE U/s-80 TO BE WITHDRAWN]
2007-2008 TDS @ 30.90% 16870 Tax: 5213
2008-209 TDS @ 20.60% 28328.00 tax-5836
2009-2010 TDS @ 0% 8106 Total 11049
Total TDS: 21679.00
Now during filing of return my CA is saying that there is additional tax to be payed on previous employer's PF income as this is not calculated in this statement. Morevover total 5 yrs. of PF account are not getting completed so we have to pay more tax on this. Is there solution to avoid tax.
That tax is coming to be around Rs. 20k.
PF that was got transferred from previous employers was:
Member's contribution:40616.00
Interest:1865.00
Employer's Contribution : 19788.00
Interest: 884
CAclubindia
