Hi Pankaj, First of all, accept my appreciations for the wonderful work you are doing. I applied for PF withdrwal from my past Co. in October 2010 but finally recived the same in April 2011 after TDS deduction. Now should I consider this in my return for FY 2010-11 and claim TDS or should ignore this and include this in next FY 2011-12 ?
1 Answers
If you received amount in early April 2011, then TDS may been deposited to income tax department in march, in that case it should be shown in FY 2010-11 earnings. You may check TDS deposit statement in your Form 26AS.
But if it came at end of April 2011, TDS may have not deposited in FY 2010-11, so you may consider it in next year filing.
Thanks Pankaj. But i felt that since the income accrued to me in FY 2010-11, it should be considered in the return. If the TDS is deposited late, I need to pay intt u/s 234 too. In my case, the paymnet arrived late in April and I still cannot see the TDS deposit in my name, which means they have still not deposited it. So, what I am trying is chasing them to issue me TDS certificate and fill that in return for 2010-11. What do you say ?
If you receive amount in FY 2011-12 and also TDS is deposited in same year, you can consider it in FY 2011-12. Now issue will only be solved when TDS certificate is issued. TDS certificates have Financial and Assessment years mentioned on them, so that should be used for filing purpose.
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How do you know that TDS has already been deducted from that amount?
@A9S6 One way to know is checking form 26AS. Other case might be that his employer has PF accounts with PF trust and not a Govt one, which may inform in case of TDS deduction.
HI Pankaj, I will go with your advice and claim the amount deducted as refund next year then.The amount is still not visible in 26AS, so I feel they haven't yet deposited the TDS. And you are right that my ex-employer held a pvt trust. Thanks a lot for your support.