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Form 15G For PF Withdrawal PDF Details
Form 15G For PF Withdrawal
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Form 15G For PF Withdrawal
An individual or a person (not a company or firm) claiming specified incomes without deduction of tax for PF Withdrawal must file Form 15G Declaration under Section 197A (1) and Section 197A(1A).
Fixed deposit holders (individuals under 60 years of age and HUFs) can fill out Form 15G to ensure that no TDS (tax deduction at source) is deducted from their interest income in a given year. According to income tax regulations, banks must deduct tax at source (TDS) on interest generated on fixed deposits, recurring deposits, and other accounts. In a financial year, it exceeds Rs. 10,000. EPFO’s Unified Portal recently included the ability to submit EPF Form 15G for PF withdrawal, allowing EPF members to withdraw PF online.
Details to be Mention in Form 15G For PF Withdrawal
There are two sections to Form 15G. The first section is for people who desire to claim no TDS deduction on specific incomes. The fields you must fill out in the first segment of Form 15G are as follows:
Field (1) Name of the Assessee (Declarant) – Name as mentioned on your PAN Card
Field (2) PAN of the Assessee: Valid PAN card is mandatory to file Form 15G. If you don’t have valid PAN details, your declaration will be treated as invalid. Declaration in Form 15G can be provided by an individual but not by any firm or company.
Field (3) Status: Your income tax status which can be Individual/ Hindu Undivided Family(HUF)/ AOP, whatever is applicable to you
Field (4) Previous Year: You have to select the previous year as the financial year for which you are claiming the non-deduction of TDS.
Field (5) Residential Status: Mention your residential status as a resident individual because NRI is not allowed to submit Form 15G.
Fields (6-12) Address: Mention your communication address correctly along with PIN code.
Fields (13-14) Email id and phone number: Provide valid email ID and contact number for further communications.
Field 15 (a) Whether assessed to tax under the Income-tax Act, 1961: Tick mark ‘’Yes’’ if you were assessed to tax under the provisions of Income Tax Act, 1961 for any of the previous assessment years.
(b) If yes, latest assessment year for which assessed: Mention the latest assessment year for which the returns were assessed.
Field (16) Estimated income for which this declaration is made: In this field, the estimated income for which you are making the declaration needs to be mentioned
Field (17) Estimated total income of the P.Y. in which income mentioned in column 16 to be included: Total estimated income for the financial year (which includes all the income)
Field (18) Details of Form No. 15G other than this form filed during the previous year, if any: If you have already filed Form 15G anytime during the financial year, then the details of the previous declaration along with an aggregate amount of income need to be mentioned in the present declaration.
Field (19) Details of income for which the declaration is filed: Last part of section 1 asks you to fill in investment details for which you are filing the declaration. You need to provide the investment account number (term deposit/ life insurance policy number/ employee code etc.)
When you’ve finished filling out all of the fields, double-check everything to make sure there are no mistakes.
Form 15G EPFO Withdrawal – Online Procedure
- Visit https://www.epfindia.gov.in/ to access the EPFO UAN Unified Portal for Members.
- Choose the ONLINE SERVICES – Claim option (Form 31, 19, 10C).
- Check your bank account’s last four digits.
- Click on Upload form 15G as shown in the image below the choice “I want to apply for.”
Download Form 15G For PF Withdrawal PDF for free
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