Income tax filing with epf withdrawal
2 years ago
Hi Everyone, i have a taxation query.
I joined company1 in 2013 November and the EPF for this company was opened under UAN ,lets call it UAN-A. In september 2016, i left this company and joined company2 which opened a new UAN for me, UAN-B. UAN-B is the latest UAN I have with all the subsequent company's crediting EPF to this UAN.
Now in 2021 jan , i withdrew all my funds present in UAN-A with 10% TDS deducted and the entry for the same present in 26AS.
My question is, do i have to pay any more tax on the epf amount withdrawn from UAN-1.
ps: I belong to 30% tax slab and amount withdrawn is > 50k.
Ayantika Mondal @ Prime Legal
Responded 2 years ago
A.Hi,
Please visit the UAN portal for knowing the tax details. EPF contributions are tax-deductible under Section 80C of the Income Tax Act, 1961. On meeting certain conditions, you are allowed to make premature withdrawals, and you need to produce documentary evidence for the same.
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Please visit the UAN portal for knowing the tax details. EPF contributions are tax-deductible under Section 80C of the Income Tax Act, 1961. On meeting certain conditions, you are allowed to make premature withdrawals, and you need to produce documentary evidence for the same.
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A.Hi,
EPF contributions are tax-deductible under Section 80C of the Income Tax Act, 1961. You can visit the UAN portal and get the details of the same. For legal advice, please contact a lawyer.
Please rate my answer
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EPF contributions are tax-deductible under Section 80C of the Income Tax Act, 1961. You can visit the UAN portal and get the details of the same. For legal advice, please contact a lawyer.
Please rate my answer
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