ITR2 and ITR3 forms have been revised once again where now PF withdrawal details in Schedule OS need to be provided. In ITR excel only three fields are given in the PF withdrawal section for taxpayer to enter,
i) AY
ii) Income Benefit -- taxpayers do not know what does this mean. Is this an amout or plain text? What should that be?
iii) Tax Benefit -- what amount to enter, how to determine that amount?
How do taxpayers determine whether Sec80C benefit was used and not used in previous years?
And, then when private employes withdraw EPF, they also get the EPS withdrawal benefit. Where to show that EPS Pension withdrawal benefit? Is that tax free? I think the Act is silent on the EPS Pension withdrawal benefit.
Some pointers in this regard from experts will help.
thanks
CAclubindia
