Section 192A → Section 203
TDS on payment of accumulated balance due to employees (PF Withdrawal)
Quick Answer
Section 192A of the Income Tax Act, 1961 (TDS on payment of accumulated balance due to employees (PF Withdrawal)) corresponds to Section 203 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective 1st April 2026. Status: Retained.
Sec 192A
Provision Summary
TDS @ 10% on PF withdrawal if it exceeds Rs. 50,000 and the employee has not completed 5 years of service.
Sec 203
Provision Summary
Retained. If PAN is not provided, the rate is 20% (instead of MMR, as per recent ease-of-compliance updates).
Key Changes & Highlights
- Rate for non-PAN cases capped at 20%.
Frequently Asked Questions
What does Section 192A of the Income Tax Act 1961 deal with?
Section 192A (TDS on payment of accumulated balance due to employees (PF Withdrawal)) TDS @ 10% on PF withdrawal if it exceeds Rs. 50,000 and the employee has not completed 5 years of service.
What is the new section number for Section 192A under the Direct Tax Code 2025?
Section 192A of the ITA 1961 maps to Section 203 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective from 1st April 2026.
What is the status of Section 192A under the new tax code?
Section 192A is marked as "Retained" with status "Active". Impact: Medium - Important for employees changing jobs or withdrawing PF early.
What are the key changes to Section 192A under DTC 2025?
Rate for non-PAN cases capped at 20%.
Disclaimer: This page is for educational and reference purposes only. Section mappings are based on publicly available drafts and circulars. Always consult a qualified Chartered Accountant before filing or making compliance decisions under the Direct Tax Code 2025.
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