I am planning for further studies and have 38 months of total job experience with PF account accumulation around 1.5L.
I wanted to withdraw PF intelligently so that I have to pay minimal (seems 10%) or ZERO TAX amount on the same.
I was reading somewhere that on submitting form 15G TDS may not be applicable and I can get full amount incashed(if my income for that financial year is less than txable limit )and pay for college education.
Can you suggest if this is possible as I was thinking of withdrawing after May 2015 and since I ll be in college my taxable income will never reach 1.8L minimum limit.
If above mentioned is not valid can you suggest alternative course of action to avoid/reduce TDS deduction amount?
CAclubindia
