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