TDS for Senior Citizens
As per the Income Tax Act, 1961, TDS for Senior Citizens is applicable when the deductee has provided its Pan Number to the deductor. Otherwise, if the deductee does not provide PAN, the deductor is required to deduct TDS at a higher rate as 20% of the total payment.
Also, as per the Income Tax Act, 1961, TDS for Senior Citizens will be deducted from the list of payments given below.
TDS on Salary or Pension ( 192 )
| Section | Nature of Payment | 15G-15H | TDS Rate for Resident | TDS Rate for Non-Resident |
| 192 (92A) | Salary Payments to Govt. employees other than Union Govt. employees | No | TDS applicable if taxable income is above 2,50,000 as per the income slab | TDS applicable if taxable income is above 2,50,000 as per the income slab |
| 192 (92B) | Salary Payments to employees other than Govt. employees | No | TDS applicable if taxable income is above 2,50,000 as per the income slab | TDS applicable if taxable income is above 2,50,000 as per the income slab |
| 192 (92C) | Salary Payments made to Union Govt. employees. | No | TDS applicable if taxable income is above 2,50,000 as per the income slab | TDS applicable if taxable income is above 2,50,000 as per the income slab |
TDS rates for salaries or Pension :
The TDS rates for a salary or pension of all S citizens, as per section 192 as follows:
| Taxable Income Slab | TDS rate | Section |
| Taxable Income up to Rs 3 lakh | Nil | 192 |
| Taxable Income up to Rs 3 lakh to 5 lakh | 5% | 192 |
| Taxable Income up to Rs 5 lakh to 10 lakh | 20% | 192 |
| Taxable Income above 10 lakh | 30% | 192 |
Standard deduction u/s 16(ia) for senior citizens :
As per the Income Tax Act, Standard deduction u/s 16(ia) for S citizens is applicable for Rs. 50000/- per year of the total payment.