Hello
A question on EPF interest rate.
I see that there is some taxable interest income in the epf portal (Taxable Data for the year [ 2022-2023])
But they also say that "In case taxable interest is less than Rs. 5,000/- then TDS will not be deducted".
Now I am not sure about where could I get to see the details of this TDS amount deducted? It's not in 26AS or AIS.
Appreciate if you can help in calculating the right taxable income related to EPF
Thanks Pradeep
Check EPF passbook for the accurate amount.
Thanks for your response Manish.
Passbook doesn't have TDS details.
I am looking for TDS details.
| Originally posted by : Pradeep Kumar | ||
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Thanks for your response Manish. Passbook doesn't have TDS details. I am looking for TDS details. |
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Ensure PAN is linked with UAN.
If there’s TDS, it will appear in 26AS.
1) The interest for year 2022-23 has not been credited by EPFO as of July 2023
2) The interest when credited by EPFO to the taxable EPF account and if interest is above Rs 5000 only then 26AS will carry such entry of the income and 10% TDS (if PAN submitted).
If interest credited is less than Rs 5000 then no TDS is deducted but the obligation to report the interest in ITR remains.
Where and how to report that interest on ITR2 Schedule OS is a open thread but no replies.
Thanks for insights. For how long can one wait now that the ITR filing deadline is nearing? Please guide how to report so that ITR is not deemed defective later.
CAclubindia
