Taxability of PF withdrawal | TDS on withdrawal of EPF | How to show TDS on PF withdrawal in ITR |

See the video and find the answer:
- Tax implication on EPF withdrawal
- Whether tax is exempt on withdrawal
- presentation of withdrawal in ITR and tds thereon
#caabhishekjain
#TaxonPF
#incometaxefiling
#incometax

[@mridulshah7314]

Thank you for the video however it is still not clear how to show the EPF amount in ITR form. EPF taxability information is available on many websites but it is not clear how to show the same after withdrawal in ITR forms. Even in this video it is not clear as in the middle of the video suggestion was to show interest as "Income from other sources" and then towards the end suggestion was to show the entire EPF withdrawn as "Income under salary" ? If a person has withdrawn EPF (all of it) before 5 years of service without using any of the exempt conditions and TDS has been deducted at 10% ( however none of this is reflected in ITR by default) , how does one add that information to ITR ? The Tax deducted with TAN number,etc. details can be easily added via TRACES portal information but where should one show the amount withdrawn as income ? Assume the scenario that person is jobless and current ITR form is blank with zero income under salary.

[@CAAbhiJain]

before 5 years it us taxable under salary head…after 5 if recognised pf then show under exempt

[@vipinghildiyal5104]

Question still not resolved,,,,, There is no clause or provision under income from salary head where this can be shown. There salary u/s 17 is to be shown and withdrawal from EPF can't be shown there. Also there is no button to add any income that can be treated under salary. But yes, under income from other sources there is a button for add income and inside this in any other button we can add this withdrawal.

[@hemantkumarkhatik7806]

all videos are really helpful..Thank you so much sir

[@CAAbhiJain]

Thank u foe your words

[@a2zblog478]

5 years se pehle 50,000 se kam withdrawal kia hai to tax lgega?

[@CAAbhiJain]

Before 5 years no exemption

[@RahulRanjanSingh]

Very useful information Abhishek ji

[@CAAbhiJain]

Thank u ji..😊😊

[@akritisharma9066]

Thank u for so much knowledge 😊

[@CAAbhiJain]

😊

[@AfnanSk]

Sir taxability on unemployeement for more than 3-4 months?

[@CAAbhiJain]

At least 5 year service required for exemption

[@antaryamibehera908]

Thanks sir

[@CAAbhiJain]

Welcome

[@mansa3698]

Thanks sir for PF withdrawl topic , but must be shown how to show on ITR . You told to show on section 10 .

[@CAAbhiJain]

Yes..if condition satisfied..them Exempt..otherwise taxable as salary

[@priyasolanki5140]

Sir kindly reply I have worked continuously for 25 years and now resigned , my pf is with trustee...if I withdraw and I have no new job ....so my pf is taxable or tax free???

[@CAAbhiJain]

Tax free if recognised PF

[@surajpattnayak8557]

I had 9 years of continuous service.. now no contribution to pf ac since 1 year.. if i withdraw no tds will be deducted as per ur comments..but confirm about if I have to show anywhere in ITR filling..will there be any tax as per slab?

[@CAAbhiJain]

If condition satisfied then no tax...

[@handsomeguy_gcopa]

Sir I worked in private sector for around 4.5 years and now I am a government servent will I have to pay any tax on complete PF withdrawal? Please guide

[@CAAbhiJain]

See the conditions...5 years condition

[@sujay_danole]

Sir, you did not mention about how to show it in ITR. It is said that you need to revise previous year's ITRs to reverse the deduction claimed. Means taxable amount will be raised in P.Y. ITRs and will be added in C.Y. ITR too. Nuksan hi nuksan. Please reply whether my understanding is right or not?

[@CAAbhiJain]

Mentioned ..as salary...as tds is deducted under the same section...listen again😊

[@prateekjain4224]

Very detailings done in your videos. Love it 😊

[@CAAbhiJain]

Thank u ..😊

[@anishsingh2178]

My contribution from employee and employer both are 12 percent will i get the deduction of tax if withdraw whole pf amount only in 7 months?? PLEASE TELL ME SIR..

[@CAAbhiJain]

Yes tds will ne deducted...

[@navnitkumar3762]

thank you sir please tell where to report retirement pf withdrawl in itr

[@CAAbhiJain]

As salary

[@arunbalukumar1982]

Is EPF amount with drawl taxable after 6 years claimed and where should the amount be shown in ITR and its section. pl clarify.

[@CAAbhiJain]

No..if tds deducted...then you can claim in ur ITR

[@rajeshcarpenter1636]

Sir, 1st company - 5 years 8 month, 2nd company - 6 month, 3rd company - 14 month... Transfered pf from 1st compant to 2nd and then 2nd to 3rd.... then pf withdrawal done exceeds 50k, and they have deducted 10% tax.... i did not get why tax was deducted by epfo and is this withdrawal is exempted or my head income since i am coming into 30% slab

[@irapashunnur8237]

Hi did you get any answer ?

[@CAAbhiJain]

As per your question...and fact it will be Exempted...fill itr accordingly...

[@CAAbhiJain]

Yes😊

[@S_u_m_i_t-r9j]

मैने जॉब छोड़ने के कारण पूरा पीएफ का पैसा निकाला था जो की 1.5 लाख से कम था और उस पर टैक्स नहीं कटा तो मुझे ये इनकम itr में दिखानी होगी क्या ?? फॉर्म 26 और 26 AIS में तो दिख नही रही है

[@gkengr]

Sir I resigned from job and after 6 months withdrawn the EPF full amount since more then 5 yrs of service no tds .but where to show in ITR PLZ reply

[@gurpreetsbatra81]

Plz also suggest me

[@Rainbowamazing]

No need to show in ITR if u withdraw after 5 year.... Njoy full money

[@sahisharma5542]

Sir mera epfo tds september 24 mai kata tha..or wo form 26as mai 2024-25 mai show ho rha hai..itr mai 2024-25 Ay nhi arha hai ..pls guide. Muzhey tds wapis lena hai..

[@CAAbhiJain]

Pls check with them...wait for atleast 15th June.. might they su mit ur details on the month of march

[@SONUSingh-cp7ps]

Sir mne Private limited company me 5 years 10 months part time job ki hai or mera empoyee or employer contribution se 80,000 pf amount bana hai without pension agar pension add kre to 1Lakh + pf amount banta hai isme withdrawl pe tds ya tax katega ya nhi katega confusion hai sir

[@irapashunnur8237]

Mere EPF me pichle 3 company ka EPF add hua hai 2018 se 2024 tak. Akhri company me sirf 9 month kaam kiya hai June 2024 tak. Agar hum abhi pura EPF amount withdrawal kare to tax bharna padega kya ?. Ya pura exempt ho jayega ?

[@prasadvirus]

if you are withdrawing PF from a company in which you worked < 5 yrs - yes you will have to pay 10% of the with-drawl amount to GOI as Tax (TDS)

[@kartiksahoo2991]

I have done a pf withdrawal for illness reason, and tds didn’t deducted, will the tds deduct happen later in my case ?

[@CAAbhiJain]

No

[@Sreehari-wh3ld]

Sir, i have SELF contributed fund as at today 8.26 LKS + EMPLOYER CONTRIBUTION AMT 6.13 LKS resulting in overall 14.4lks..I would need to withdraw due to illness of my Parent. Need to withdraw atleast 75% of my overall 14.4 lks. I have 18 years of overall work experience and with present private company its 2.7 yrs. Is this amount tax deductable or how it works? Please could u share your view? Thnx

[@soumyaranjanjena6746]

Hello sir, if i withdraw advance EPF, will that amount be considered as a part of my income for the purpose of ITR filing?

[@CAAbhiJain]

Following 3 cases not taxable 1. Withdrawal after 5 years of continuance of service 2. Reason beyond employee control like disablement of employee, discontinuance of business of employer 3. Transfer of fund from one emploer RPF act to new employer RPF acct

[@soumyaranjanjena6746]

@@CAAbhiJain OK Thanks

[@KunalMahajan-pq3uf]

Sir if i withdraw advance pf.. i.e form 31 amount will be 90k .. then kitna tds cut hoga ya nai hoga explain

[@soumyaranjanjena6746]

@@KunalMahajan-pq3uf If you have linked PAN in your UAN and if your service period is more than 5 years then no TDS at all. If the service period is less than 5 years then 10% TDS would be deducted and incase you have not linked PAN then 20% TDS would be deducted. Here Service period can be at least you have worked for 5 years in one employer or if you have different employers but the working period including all is 5 years at least.

[@KunalMahajan-pq3uf]

@@soumyaranjanjena6746 i heard advanced pf withdraw me koi tds cut nai hota irrespective of service and amount withdraw... Plz clarify

[@kinthalisantosh8724]

I had withdrawn my pf amount after one year... 10% tds deducted.. my income is 9 lac will there be any further tax imposition diring ITR filing and how to claim my deducted TDS...? Plz reply...

[@rajanikamath5999]

Namaste, I have not withdrawn P.F., but have receipt accumulated of balance u/s 111 in Ais and 26as. Any idea why it’s included? I am in same company for more than five years too

[@CAAbhiJain]

Check ..if not your then report the same..on ais

[@NikhilKumar-dq8xx]

My PF TOTAL was 34,796 i worked for 1 year after resignation I withdrew my PF I received 31,500 why so? Why my tax has been deducted? if my total PF was less than 50000 and also less then 5 years of service..

[@mskumar1287]

Sir, Any special treatment for a senior citizen who got re employed after normal retirement but eventually withdrew entire PF before 5 years of contribution at the age of 66 years What will happen to additional PF contributions Thanks

[@CAAbhiJain]

No special treatment for senior citizen...If new accct then 5 years continuity required...

[@aarteebhumarkar3285]

Sir mera epf tds kat gya h august 2023 m show ni krrha 26as m toh itr kb file krskte hai

[@CAAbhiJain]

July 2024 tak..probably may 23 se start ho jayega

[@lishachauhan7934]

Thanks sir

[@CAAbhiJain]

😊😊