yes. The amount of TDS is Rs. 7670 and it will be refunded as the total income is below taxable limit including salary and PF.
Can taxed PF withdrawal be refunded if income is below limit
Hi, I had a small query.My entire income from salary was INR 1lakh as I worked for just 2 months(apr and may) and tax was deducted for INR 812. Since I had opted for PF withdrawal and my service in the firm was lesser than 5 years, my pf withdrawal got taxed amounting to INR 6858. While filling the return, the system is showing refund of total INR 7670(6858+812).Whereas I feel only 812 should be refunded as 6858 is correct basis the PF Withdrawal.The total income is approx 1.76 lakhs including pf and salary which is below the tax limit. Am I missing something here in understanding and the system is right in claiming refund of INR 7670?
Asked 7 years ago in Income Tax
Hello,
No, that is a technical glitch in the system.
Trust this clarifies your query.
Feel free to call / get back in case of further clarifications.
Thanking You.
Regards,
Rohit R Sharma
BCOM, ACA, LLB-GEN, CERT. FAFP
So basically i can't claim refund for the pf amount even if my total taxable amount is below the limit, right?
Asked 7 years ago
You can claim TDS deducted on PF amount.
Ok, Thanks Shyam!
Asked 7 years ago
Dear Sir,
There is no issue in refund calculation. Since, your income is below taxable limit, you are entitled to get the full refund.
Please feel free to revert in case of any doubts
Thanks and Regards
Abhishek Dugar
CA CS B.Com
Thanx Sir.
Query answered by Mr. Shyam.
Ask a Chartered Accountant
Get tax answers from top-rated CAs in 1 hour. It's quick, easy, and anonymous!
Ask a CA