Dear Sir , I want to know in Pf withdrawal form Pan number is mendetory or not,send any documents related inforamtion regarding. want to know about relaxation in TDS. Regards , Bhushan Wagh
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PF Withdrawal Form and TDS Rules
When it comes to PF withdrawal, the PAN number is indeed mandatory to be provided in the withdrawal form. The PAN number is required for tax purposes and to ensure proper documentation of the withdrawal process. Failure to provide the PAN number may lead to tax implications or delays in processing the withdrawal request.
Relaxation in TDS
Regarding any relaxation in TDS (Tax Deducted at Source) for PF withdrawals, it's essential to understand the following points:
1. [ICON] TDS on PF withdrawals: TDS is applicable on PF withdrawals if the withdrawal amount exceeds a certain threshold specified by the Income Tax Department.
2. [ICON] Relaxation under Section 10: However, there is a provision under Section 10 of the Income Tax Act that provides for relaxation from TDS on PF withdrawals under certain conditions.
3. [ICON] Form 15G/15H: If the withdrawal amount is below the taxable limit and you meet the specified criteria, you can submit Form 15G (for individuals) or Form 15H (for senior citizens) to the concerned authority to avail of the relaxation from TDS.
4. [ICON] Eligibility criteria: To be eligible for submitting Form 15G/15H, ensure that your total income is below the taxable limit and you meet the specified conditions as per the Income Tax laws.
5. [ICON] Submission process: Fill out the respective form accurately and submit it to the EPFO (Employees' Provident Fund Organisation) along with your PF withdrawal application to claim relaxation from TDS.
It's advisable to consult with a tax advisor or financial expert for personalized guidance on TDS rules and relaxation options based on your specific circumstances.
From India, Gurugram
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73When it comes to PF withdrawal, the PAN number is indeed mandatory to be provided in the withdrawal form. The PAN number is required for tax purposes and to ensure proper documentation of the withdrawal process. Failure to provide the PAN number may lead to tax implications or delays in processing the withdrawal request.
Relaxation in TDS
Regarding any relaxation in TDS (Tax Deducted at Source) for PF withdrawals, it's essential to understand the following points:
1. [ICON] TDS on PF withdrawals: TDS is applicable on PF withdrawals if the withdrawal amount exceeds a certain threshold specified by the Income Tax Department.
2. [ICON] Relaxation under Section 10: However, there is a provision under Section 10 of the Income Tax Act that provides for relaxation from TDS on PF withdrawals under certain conditions.
3. [ICON] Form 15G/15H: If the withdrawal amount is below the taxable limit and you meet the specified criteria, you can submit Form 15G (for individuals) or Form 15H (for senior citizens) to the concerned authority to avail of the relaxation from TDS.
4. [ICON] Eligibility criteria: To be eligible for submitting Form 15G/15H, ensure that your total income is below the taxable limit and you meet the specified conditions as per the Income Tax laws.
5. [ICON] Submission process: Fill out the respective form accurately and submit it to the EPFO (Employees' Provident Fund Organisation) along with your PF withdrawal application to claim relaxation from TDS.
It's advisable to consult with a tax advisor or financial expert for personalized guidance on TDS rules and relaxation options based on your specific circumstances.
From India, Gurugram
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PF WITHDRAWAL RULES.zip
TDS on withdrawal of PF - limit Rs.50000 from 1.6.2016 (1).pdf