HOW TO FILE RETURN FOR EPF WITHDRAWAL BEFORE 5 YEARS| AY 2018 19

HOW TO FILE RETURN FOR EPF WITHDRAWAL BEFORE 5 YEARS| AY 2018 19



Project - #makeknowledgefree

By - Suraj



Q1 - Where do I declare this in ITR form? I understand that I have to mention received EPF amount in ITR form(which section?)



if PF is withdrawal less than 5 years it would be taxed as given below.





Employer contribution towards PF under salary head and rest under other sources



1.) Employer contribution and interest thereon

Basically, the employer’s contribution and interest thereon would be fully taxable under slary head



2.) Employee contribution and interest thereon



This is the amount contributed by you to your EPF. This portion of your withdrawal is not taxable. However, if you have claimed deduction under section 80C on your contribution in earlier years, you may have to pay additional tax as if 80C was not claimed by you for those years.



Basically, the employee’s contribution would be taxable to the extent of deduction claimed under Section 80C for any of the previous years . This is to be offered under under salary



The interest earned on employee’s total contributions would be taxable as ‘income from other sources’









( Not your case -

If PF withdrawal is after 5 years then it is exempt from tax. You can still show it Income Tax Form under exempt income section like we show PPF Interest in itr 2(exempt income),don’t go for itr )





Q2 - Do I have to mention the total EPF amount or received amount(after TDS deduction)?

You will mention EPF inclusive of TDS since you anyways claim TDS credit under schedule IT



Q3 - Do I need to submit a TDS form to claim that deducted amount(but it's not available in my TDS a/c)? How can I get this done?

You will get to see it in 26 as (tax credit statement)