Is there any TDS deduction for EPF withdrawal below 40000

Q & A Forum › Category: Provident Fund (EPF & PPF) › Is there any TDS deduction for EPF withdrawal below 40000

Aravinth asked 8 years ago

I need to withdraw my EPF amount. Already updated my aadhaar and bank details and approved my previous employer.. I couldn't update my pan number in KYC detail... Due to name mismatch...My EPF amount is under 40000..is there any TDS deduction for my withdrawal... Please kindly help me on this

1 Answers

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Sreekanth Staff answered 8 years ago

Hi, I have observed that EPFO has been deducting TDS irrespective of quantum of claim amount or service period, if PAN has not been verified in UAN portal. Kindly note that PF claim amount is a taxable income if service period is less than 5 years (whether TDS is deducted or not). Kindly read :

Aravinth replied 8 years ago

My service is 24 months & Total balance is less than Rs.50,000/-. I didn’t submits my pan Details.Is there any Income Tax (TDS) deduction for my withdrawal ??/Please Clarify on this

Sreekanth Staff replied 8 years ago

Hi..Ideally, EPFO should not deduct TDS. But kindly note that your PF claim amount is a taxable income and you need to include it in your income tax return.