Question 1

Is the online submission of Form 15G for PF withdrawal required?

Accepted Answer

Even if one's gross taxable income is below the cutoff but their total taxable income (including the provident fund withdrawal) balance is zero, they must still submit Form 15G and request an exemption. Withdrawals from Provident Fund (PF) accounts are subject to it.

Question 2

Is 15G required in order to withdraw PF?

Accepted Answer

You must fill out Form 15G if you withdraw money from your PF account before the full 5 years have passed in order to avoid TDS deduction.

Question 3

What is the Form 15G's projected income?

Accepted Answer

The income you made during the current fiscal year is listed as your estimated income on Form 15G.

Question 4

What happens if form 15G for PF withdrawal is not submitted?

Accepted Answer

If an employee with less than five years of service withdraws more than or equivalent to Rs. 30,000, TDS will be deducted at a rate of 10% if Form 15G/15H is not completed, provided PAN is submitted.

Question 5

If the 15G is not submitted, what happens?

Accepted Answer

If you do not complete Form 15G, Tax Deducted at Source will be debited from your account, and you will receive a TDS certificate that you can attach when completing your income tax return and pay any unpaid taxes (if any).

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How to Fill Form 15g for PF Withdrawal?

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