FOR INDIA'S BEST CA CS CMA VIDEO CLASSES CALL 9980100288 OR VISIT HERE
Take This Quiz & Predict Your Score in the coming CA CS or CMA Exam!
  • How important it is for you to pass the exam in this attempt?
  • What percentage of course you have finished well so far roughly?
  • How many hours you study in a day?
  • How many times you have revised the topics you have finished
  • Have you taken online or pen drive or live class from a renowned faculty?
  • What percentage of the classes you have watched?
  • Have you attempted mock tests or practice tests yet?
  • Are you planning to attempt mock tests conducted by external bodies- ICAI, ICSI, ICMAI or other institute?
  • How many tests you have taken?
  • Did you manage to finish the test papers on time?
  • Are you strictly following study material provided by the exam conducting authority such as ICAI/ICSI/ICMAI/Other Body?
  • How is your health in general?
  • How is your food habit?
  • Any interest in yoga or exercise or play sports regularly?
  • Planning to sleep well nights before the exams?
  • Planning to have light food and water before exams?

Tax on EPF withdrawals

Tax on EPF withdrawals

The 2015 Budget by FM Arun Jaitely had some changes with respect to withdrawals from EPF or Employee Provident Fund.

Your contribution to EPF is deducted @12% on your basic salary. This amount can be claimed as a deduction under section 80C.

Let’s take a quick look at rules of taxation of EPF withdrawals –

  • These changes are effective 1st June 2015
  • Withdrawals from EPF before completion of 5 years of service will attract a TDS of 10%.
  • If the EPF withdrawal is less than Rs 30,000 no TDS shall be applicable.
  • EPF withdrawals are tax free when made after 5 years of continuous service.
  • In calculating the 5 year term, the period of previous employment is included if the EPF balance from the previous employer is transferred to the current employer.
  • Quoting your PAN is mandatory at the time of withdrawal. Where PAN is not provided TDS shall be deducted at highest slab rate of 30%.
  • EPF withdrawals before completion of 5 years are tax exempt – when
    • employment is terminated due to employee’s ill health
    • The business of the employer is discontinued
    • or the reasons for withdrawal are beyond the employee’s control

Tax on EPF withdrawals

CAKARt

CAKART

At CAKART www.cakart.in you will get everything that you need to be successful in your CA CS CMA exam – India’s best faculty video classes (online or in pen drive) most popular books of best authors (ebooks hard copies) best scanners and all exam related information and notifications.Visit www.cakart.in and chat with our counsellors any time. We are happy to help you make successful in your exams.

.

www.cakart.in.

Click Here to download FREE CA CS CMA Text Books.

Leave a comment

Your email address will not be published. Required fields are marked *