TDS from amount paid from Recognized Provident Fund – Section 192A

This section is applicable from 1st june 2015.

Notwithstanding anything contained in this Act, the trustees of the Employees’ Provident
Fund Scheme, 1952, framed under section 5 of the Employees’ Provident Funds and Miscellaneous
Provisions Act, 1952 or any person authorised under the scheme to make payment of accumulated
balance due to employees, shall, in a case where the accumulated balance due to an employee
participating in a recognised provident fund is includible in his total income owing to the provisions
of rule 8 of Part A of the Fourth Schedule not being applicable, at the time of payment of the
accumulated balance due to the employee, deduct income-tax thereon at the rate of ten per cent.:
Provided that no deduction under this section shall be made where the amount of such payment
or, as the case may be, the aggregate amount of such payment to the payee is less than thirty
thousand rupees:
Provided further that any person entitled to receive any amount on which tax is deductible under
this section shall furnish his Permanent Account Number to the person responsible for deducting
such tax, failing which tax shall be deducted at the maximum marginal rate.

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Rohit Pithisaria

Rohit Pithisaria

I am a Chartered Accountant based in Jaipur (Rajasthan). Started TaxAdda in 2011 as a blog and now providing various services related to GST and Income Tax to the client all over India.

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