Dear Professional Collegues,
A Small Quiery, a person have continues services of more 5years in india and left abroad for employement. later on when he is in abroad withdrawn money from his PF account. As he is NRI company has dedcuted 30.9% as TDS at the time of payment. Now my doubt is is he eligible for exemption as he have completed 5 years of continuos service or this condition applies only for residents.
In case of recognized PF Fund if more than Rs. 50,000 os withdrawn before completion of 5 years then 10% TDS is deductible but if you have completed the 5 years of service in the company then PF is fully exempt as you already have given the tax while in service and interst earned in PF is fully exempt.
If you stateent is true then you can claim credit in tax return
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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