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Sample Filled Form 15G TDS deduction for PF Withdrawal in 2020

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EPF members who are withdrawing a PF amount (only form 19) of more than 50000 Rs in below 5 years of service need to submit 2 copies of form 15G and 1 copy of PAN card. If EPF members fail to submit form 15G then 34.6% tax will deduct from their PF claim amount or sometimes EPF officials will reject the EPF claim. EPF members whose age is below 60 years need to submit form 15G and for above 60 years form 15H is required. ---------------------------------------------------------------------------- Tax deduction situations during PF withdrawal ----------------------------------------------------------------- If the employee submits both PAN and 15G No tax deduction If the employee submits only PAN TDS 10% If the employee doesn’t submit PAN also TDS 34.6% Filled Form 15G Part 1 Filled Form 15G Part 2
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How to fill form 15G for PF withdrawal in 2020:

Field 1 Name of assessee Write the name of the person who is submitted Field 2 PAN of the assessee Write your PAN number Field 4 Previous year If you are submitting form 15G form before 31 March 2020, then the previous year will be 2019-20 & assessment year is 2020-21. Field 5 Residential status Indian Fields 6 – 12 Address Here write your address details Field 13 Email id Write your email id. Field 14 Mobile number Write your mobile number Field 15 part(a) Already assessed or not If you filed income tax returns under income tax act 1971 then tick Yes otherwise tick No Part (b) Assessment year Mention the year followed by the previous year Field 16 Estimated total income of the p.y. in which income mentioned in column 16 to be included Mention the estimated income, for example, if you are withdrawing a PF amount of 60,000 Rs then mention 60,000 as estimated income. (Don’t need to mention the exact amount) Field 17 Estimated total income of PY Mention your total a...
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