Amendment in Section 192A of Income Tax Act, 1961 related to TDS - Instructions thereof.

Source:EPFO Orignal Link

The Finance Act, 2016 has amended section 192A of Income Tax Act, 1961 to raise the threshold limit of provident fund withdrawal from Rs. 30,000/- to Rs. 50,000/- for Tax Deducted
at Source (TDS). This provision will be effective from 1st June, 2016. A copy of the amended provision is enclosed for information.

2. Other instructions on the subject as contained in the above referred circular will remain the same. The IS Division has been separately requested for necessary amendment in the
application software.

3. This has approval of ACC (F&A).