Confused About Tax on PF and EPS Withdrawals? Need Help with IT Return Calculations!

Dear All, I have withdrawn my PF & EPS amount from my last employer. My previous employer has a PF trust, so they deducted TDS on my PF withdrawal during my service period FY.

Received Amount after TDS: 74,375/-
TDS deducted: 15,899/-
All this amount I received in May 2009. I got Form 16 for the PF withdrawal amount from the previous employer. In this, they have added Employer contribution + interest on Employee & employer contribution (i.e., 41,455/-).

EPS amount I received from the government (i.e., 19,720/-). All this amount I received in May 2009. I have to add this amount in my tax return.

Tax Return Preparation

Which amount do I have to consider for IT return preparation?
For PF: 74,375/- or 41,455/-
For EPS: Is this amount taxable?

Kindly reply ASAP.

Regards,
Jay

You should only use 41455/- in the tax returns as the tax has already been paid on your contribution when you were employed with that organization. No, the tax paid is only on the employer's contribution plus interest earned on your and the employer's contribution.

If you have received EPS from the government, just get the TDS certificate from the EPF office. It will show if they have already deducted tax before paying you the withdrawal amount.

Please note: If the TDS deducted is, say, 10% and as per your income level, you fall in the 20% tax bracket, then you need to pay the balance tax on your own and furnish those details too (Self Assessment Tax paid in excess of the TDS) in the tax return.