My son left his job on 19th Feb 2024 to take up higher studies. His employer paid him their Trust PF amount of Rs 1.12 lakhs on May 5th. The total work period is just 3 years. There is a break in employment of about 14 months from Feb 19th. But his employer deducted TDS of 85000 on the 1.12 lakhs. Can it be claimed back showing exemption under sec(10) while filing ITR ?
Menu
TDS deducted against PF withdrawal
Replies (1)
If serice was less than 5 years and withdrawal was not due to death, retirement, or specified illness , the amount is taxable.
Your son can claim exemption while filing ITR if he meets tax rules for EPF withdrawal exemption.
Recent Topic
- Due date of ITR for Option Trader
- Cancelled invoice entry
- Debt Mutual Fund Tax in New Regime
- Amount distributed by a Co-op. Hsg Society to its
- Delayed reported invoice in GSTR1
- Kusumgar IPO Listing Date: Shares Debut on BSE, NS
- When is Diwali in 2026? Date, Muhurat Timing and D
- Amount received by son from PPF closure proceeds o
- Clarification on Nature of Payment Code for NRI Pr
- Fee received as Independent Director
Related Topics
CAclubindia
