EPF Settlement - settled amount is less than actual PF amount due to TDS deduction

rajkumar.avani@gmail.com
I had applied PF final settlement & pension fund thru online, but the settled amount is less than actual PF amount due to TDS deduction, if any provision for getting TDS amount from Income Tax Department. If the getting this amount is very helpful for us. If anybody can share your ideas about in this regard.
Glidor
Visit the EPF and obtain form 16A, then file return. However it does not help in real, as the whole amount is subjected to tax including interest, as the contributions below 5 yrs completion is not qualified for sec 80C deduction under income tax act
Sai18
Hi Rajkumar,
A few key details like the number of your service years is missing in the question. PF withdrawal is taxed at 10% if the amount is greater than 50000 and you have not completed 5 years of continuous service yet.
Please go through this link for more details - https://cleartax.in/s/pf-balance-withdrawal-incometax
Click on the "+" sign for more helpful answers like these
Regards,
Sairam Bandi
[Login to view]
If you are knowledgeable about any fact, resource or experience related to this topic - please add your views. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone. Join To Contribute