Dear Seniors,
My query regarding PF withdrawal time: for government-fixed amounts less than 30,000/-, no TDS is applicable, and for amounts above 30,000/-, TDS is applicable. I am aware of TDS calculation for amounts exceeding 30,000/- in PF (such as PAN card submission, Form 15G/15H). My question is, why has the government set the limit at "30,000"? Is there a specific reason for this?
Regards,
Suresh
From India, Mumbai
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My query regarding PF withdrawal time: for government-fixed amounts less than 30,000/-, no TDS is applicable, and for amounts above 30,000/-, TDS is applicable. I am aware of TDS calculation for amounts exceeding 30,000/- in PF (such as PAN card submission, Form 15G/15H). My question is, why has the government set the limit at "30,000"? Is there a specific reason for this?
Regards,
Suresh
From India, Mumbai
Acknowledge(0)Amend(0)
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TDS on withdrawal of PF - limit Rs.50000 from 1.6.2016 (1).pdf