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Tds deducted while withdrawing pf amount

TDS 233 views 2 replies

Hi

I had worked for a company for around 3 years(from Oct 2010- Oct 2013). I withdrew my PF amount (Rs 58000) from this company on Jan 2016 (after 5 years). They deducted 5800 as TDS. I read somewhere that PF is non taxable after 5 years. But I am a bit confused as somewhere it is written that it is for continuous service of 5 years.

Can I claim this amount by filing ITR this year or not?

Regards

yash

 

Replies (2)
tds need not be deducted under section 192A if, on the cessation of his employment, the employee obtains employment with any Other employer, to the extent the accumulated balance due and becoming payable to him Is transferred to his individual account in any recognised provident fund maintained by such other employer.
So, if your previous balance is not c/f to EPF account maintained by other emoloyer, then they are right in deducting tds as you have not completed five years of continuous service there.

5 year continous pf credit should be there in their accounts else it gets taxable, if the tds does is reflecting in your 26as you go ahead and claim it in ITR


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