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Q. > Please Help: TDS ON PROVIDENT FUND
W.e.f. 01/06/2015 the Trust / administration of Recognised provident fund is required to deduct TDS @10% on the payment proceeds of PF balance to the employees u/s 192A if that employee has not served continuously for the period of 5 years as provided in the Schedule IV Part A read with Rule 8 of the I.T. Act, 1961 in that regard.
However there is a provision in favor of such employees who have not put in more than 5 years of service provided the termination of employment is on account of:
1. Ill health of the employee.
2. Contraction or Discontinuance of the employer’s business.
3. Other cause beyond the control of the employee.
I want to understand that what are the circumstances which can be termed as “beyond the control of the employee†which would satisfy the A.O.’ s requirement and allowing such proceeds to be exempt income in the hands of the assessee.
Are any case law in favor of employee on this issue with citations?
Experts Panelist
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