Hello Sreekanth,
I withdrew my PF amount earlier this year in Jan. As I haven't completed 5 years TDS was deducted. I would like to know how I can claim for refund while filing IT returns for AY 2018-19. I will be filing a nil return as I haven't worked during the mentioned assessment year. Is there an option to claim it while filing nil return in ITR website or do I have to do it in TDS website? Please let me know the process in detail.
Thanks
Sooraj
1 Answers
Dear Sooraj,
Kindly note that the EPF full withdrawals before completing 5 years service period is a taxable income (whether TDS is deducted or not).
However, if your income (including EPF claim amount) is below basic exemption limit (with NIL tax liability) then you can claim TDS are REFUND (if any).
But, you need to declare the EPF amount & TDS in ITR and then calculate your tax liability.
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