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Tds on epf

Maan Singh (Assistant Manager Accounts) (79 Points)

16 June 2016

Dear Exprets,

Is there any TDS applicalbe on withdrawal of EPF & What is the limit (if Yes please share notification )

Regards

Maan

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4 Replies

Senu Reddy (ca final) (291 Points)
Replied 16 June 2016

it will be treated under section 192A and Tds @ 10% if such withdrawl exceeds Rs.50,000/- and no TDS if he is in employment for more than 5 Years

CA Harshal Totla (Chartered Accountant) (2229 Points)
Replied 16 June 2016

Hii Mr.Maan, premature taxable withdrawal from accumulated balance of EPF is liable to tds u/s 192A @ 10% if withdrawal amount is more than Rs.50K. Premature taxable withdrawal means that employee is in employment for 5 years or less. If your taxable income is less than maximum amount not chargeable to tax then No tds shall be deducted if you gives declaration in form 15G/15H.