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1 mark

If the recipient of Employee provident Fund (EPF) withdrawal does not provide his PAN, TDS on the withdrawal will be _________, instead of the maximum marginal rate as per new budget of 2023.

  1. A
    20%
  2. B
    30%
  3. C
    51%
  4. D
    40%

Solution & Step-by-step Explanation

In the Union Budget of 2023, the government reduced the Tax Deducted at Source (TDS) rate from the maximum marginal rate to 20% on the taxable component of EPF withdrawals in non-PAN cases.

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If the recipient of Employee provident Fund (EPF) withdrawal does not provide his PAN, TDS on the withdrawal will be _________, instead of the maximum marginal rate as per new budget of 2023.
A
20%
B
30%
C
51%
D
40%

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