Section 194EE- TDS on Payments in respect of Deposit under NSS

  1. Deductor- Any person responsible for making payment of any amount for the amount standing in NPS covered under Sec 80CCA and accrued interest.
  2. Deductee- Person who has deposited in NPS and is covered under Sec 80CCA
  3. Time of Deduction- At the time of payment.
  4. Rate of TDS- 10%
  5. 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

Section 193- TDS on Interest on Securities

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