TDS Section 192A

Section 192A of the Income Tax Act, 1961 deals with the TDS on premature withdrawal of accumulated balance from the Employees’ Provident Fund (EPF). This section ensures that the government receives a portion of the tax on premature EPF withdrawals, which are considered taxable income in such cases. It also encourages employees to retain their…

Deductor: TDS to be deducted at the time of payment by trustees of Employees’ Provident Fund Scheme, 1952 or any other person authorized under the scheme to make payment of accumulated sum to employees. Applicability: TDS shall be deducted in the following situations- a. The amount from EPF has been withdrawn before completion of continuous…