If you submit 15G, then TDS will not be deducted. But, you will have to pay tax while filing your IT return, since you are withdrawing before 5 yrs.
This tax on PF can be broken into three parts:
1) Total of employer’s contribution plus interest which was not taxed earlier will be taxed under the head ‘profits in lieu of salary’.
2) You will be taxed on the amount of tax benefit claimed for your contribution of EPF.
3) Interest received on your own contribution to EPF will be taxed as ‘Income from other sources’.
From India, Mumbai
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This tax on PF can be broken into three parts:
1) Total of employer’s contribution plus interest which was not taxed earlier will be taxed under the head ‘profits in lieu of salary’.
2) You will be taxed on the amount of tax benefit claimed for your contribution of EPF.
3) Interest received on your own contribution to EPF will be taxed as ‘Income from other sources’.
From India, Mumbai
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