TDS ON PF WITHDRAWAL

Dear Experts

One of my friend Received 8 lakhs from PF Trust( working with IT co.) during 19-20  and TDS deducted while disbursement. 

1. Whether entire amount should be shown as income under the head " salary"

2. He has worked  6 Years in that Company, so he can claim exemption . where to show the exemption in ITR.

Please clarify.

 

regards

P Narayanan

 

 

 

 

 

Replies (3)
Quick Summary
This discussion clarifies the tax implications of Provident Fund (PF) withdrawals, specifically addressing TDS deductions. It explains that if PF is withdrawn after 5 years of continuous service, the entire amount, including principal and interest, is tax-free. For withdrawals made earlier, the taxable portion, particularly the interest earned, may need to be declared under the 'Income from Other Sources' (IFOS) head in the Income Tax Return (ITR), with exemptions shown in the 'Exempt Income' schedule.

Tds u/s 192A on premature pf withdrawal
any person have to maintain 5 years of working
Pf amount after deduction will be shown in salary
Exemption you show in EI schedule.
I think taxable withdrawal amount to be under IFOS.
If you wish to withdraw the amount in your PF account after 5 years of continuous service (membership of the account) then the entire amount including the principal and interest withdrawn by you shall be tax-free. The interest earned with respect to your contribution and your employers' contribution is exempt from tax.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
12 October 2026
Chartered Accountant - Internal Audit

HKC | Chartered Accountants & Business Advisors

Ludhiana

CA

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details
Company
22 September 2026
Account Assistant

Chirag P Shah & Co. Chartered Accountant

Pune

B.Com

View Details
Company
10 October 2026
Accounts Associate Level 1

Abic and Mani Chartered Accountants

Kottayam

B.Com

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details
Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 28 September 2026
Junior Accountant

J S P M & Associates LLP

Pune

B.Com

View Details