I worked with my previous organization for 40 months. There was a PF deduction of Rs. 3000 on average from my monthly salary. I wanted to withdraw the PF amount from the company's PF trust. What would be the TDS amount deducted if I withdraw it?
From United States, Rolling Meadows
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From United States, Rolling Meadows
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If the Provident Fund deduction is less than 5 years, then it will be added to your income of the current year, and if it becomes taxable, it is subject to the tax bracket you are in. TDS is one way of paying tax. If your employer is not deducting the tax on the quantum of PF withdrawal, then you will have to pay the same as advance tax.
Regards,
Ramakant
From India, Pune
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71Regards,
Ramakant
From India, Pune
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