TDS on payments in respect of deposits under National Savings Scheme etc. [Section 194EE] | AY 2019-20 onwards

Last udpated: Jan. 11, 2019, 5:44 p.m.

Rate of TDS under section 194EE

The person responsible for paying to any person any amount from National Savings Scheme Account shall deduct income-tax thereon at the rate of 10% at the time of payment.

Threshold limit

No such deduction shall be made where the amount of payment or the aggregate amount of payments in a financial year is less than  Rs 2,500 .

Non-applicability of TDS under section 194EE

The provisions of this section shall not apply to the payments made to the heirs of the assessee.

Posted by CA Ankit Sharma under Income-Tax

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