Business Particulars for professionals in ITR-4

For TDS deducted on PF (Provident Fund) withdrawal, the relevant head of income to select under the TDS2(i) schedule is generally:

“Income under the head 'Income from Other Sources'”

Explanation:

• PF withdrawals (if taxable) are usually considered under "Income from Other Sources" in the Income Tax Return.

• If the PF withdrawal is exempt (like after 5 years of continuous service), no income arises and TDS may not be applicable.

• However, if TDS is deducted, it would correspond to income taxable under Other Sources.

So, in the TDS2(i) schedule:

• Select Other Sources (Code 21 in some utilities) as the head of income for gross PF withdrawal amount.

• Mention the TDS amount accordingly.