Hello experts,
If I withdraw the PF amount(around 22000 INR),
1. Will it come fully?
2. If no, what is the TDS %?
3. What is the Tax %?
4. If TDS is cut 30%, can I claim it(or a part of it) back according to my form 16 next year if I my total income is not in 30% tax slab? Or is it non-refundable amount?
Info:
I worked in the company for 1 year. Now I have joined another company.
The company was a private company.
best way to transfer the EPF balance to new company EPF by submitting form 13.
as more years of continued job will fetch more reqards at your elder age in terms of finance ( pension)
| Originally posted by : prateek aanchalia | ||
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If PF means Professional Fee Income Than Its liable to TDS @ 10% (194J)on full income. that TDS deduct by income .. u provide professional service in company and u r not in employee or employer relation with co. so in ur case TDS @ 10% applicable.. hence 30% TDS question does not arise.. and also TDS deduct on ur income when u file ur income tax return than u claim that TDS as tax payable by u..if any excess amount arise that amount eligible for refund.... |
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PF: Provident Fund.
I read several posts on this forum and at some places it was written that the TDS applicable will be 30%. So what is the TDS % on the PF withdrawal?
Thanks,
Rajan
Very True Mr U S Sharma.
But I am withdrawing PF because of some current need.
Thanks
Rajan
@ Rajan
even in that case i will ask you to transfer and get a loan from the fund,
loan will get repaid with time, but fund will live long
I am agree with Mr. Sharma, and that is really worth.
CAclubindia
