- Deductor- Any person responsible for making payment of any amount for the amount standing in NPS covered under Sec 80CCA and accrued interest.
- Deductee- Person who has deposited in NPS and is covered under Sec 80CCA
- Time of Deduction- At the time of payment.
- Rate of TDS- 10%
- When no TDS is deducted:
- For aggregate payments up to Rs. 2,500 in a FY.
- Where the payment is made to the heirs of the deceased Assessee (depositor)
- If a declaration is submitted under section 197A by the recipient to the payer, then no tax is deductible in a few cases.
∼Authored by – CA Anushka Saraogi∼