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SECTION - 192A - APPLICABLE WITH EFFECT FROM IST DAY OF JUNE 2015
The trustees of the Employees’ Provident Fund Scheme, 1952, framed
under section 5 of the Employees’ Provident Funds and Miscellaneous Provisions
Act, 1952 or any person authorised under the scheme to make payment of
accumulated balance due to employees, shall, in a case where the accumulated
balance due to an employee participating in a recognised provident fund is
includible in his total income owing to the provisions of rule 8 of Part A of
the Fourth Schedule not being applicable (i.e PF withdrawl before 5 years of continuous service ), at the time of payment of the
accumulated balance due to the employee, deduct income-tax thereon at the rate
of ten per cent.:
Provided that no deduction under this section
shall be made where the amount of such payment or, as the case may be, the
aggregate amount of such payment to the payee is less than thirty thousand
rupees ( Fifty thousand rupees w.e.f 01 June 2016 ) :
Provided further that any person entitled to receive any amount on which tax is deductible under this section shall furnish his Permanent Account Number to the person responsible for deducting such tax, failing which tax shall be deducted at the maximum marginal rate.
Download and submit below mentioned forms for avoidance of tds on pf withdrawl
Form 15G
Declaration under sub-sections (1) and (1A) of section 197A of the Income-tax Act, 1961, to be made by an individual or a person (not being a company or a firm) claiming certain receipts without deduction of tax
Declaration under sub-sections (1) and (1A) of section 197A of the Income-tax Act, 1961, to be made by an individual or a person (not being a company or a firm) claiming certain receipts without deduction of tax
Form 15H
Declaration under sub-section (1C) of section 197A of the Income-tax Act, 1961, to made by an individual who is of the age of sixty years or more claiming certain receipts without deduction of tax
Declaration under sub-section (1C) of section 197A of the Income-tax Act, 1961, to made by an individual who is of the age of sixty years or more claiming certain receipts without deduction of tax
