TDS for Senior Citizens | Complete Guide to TDS Senior Citizens { NEW }

 

 

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 deductee not provided PAN, the deductor is TDS deducted 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 list of Payment given Below

 

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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 Above 2,50,000  as per income slab  TDS applicable, if taxable income Above 2,50,000  as per income slab   
192 (92B) Salary Payments  to employees other than Govt. employees No TDS applicable, if taxable income Above 2,50,000  as per income slab  TDS applicable, if taxable income Above 2,50,000  as per income slab   
192 (92C) Salary Payments made to Union Govt. employees. No TDS applicable, if taxable income Above 2,50,000  as per income slab  TDS applicable, if taxable income Above 2,50,000  as per income slab   

TDS rates for salaries or Pension :

 

The TDS rates for a salary or pension of all S citizens as per under 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.

 

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TDS for Senior Citizen

TDS for S Citizens

 

 

 

 

 

 

 

TDS for Senior Citizen Related Query : 

 

Tds for Citizens As per the Income Tax Act, 1961,  Tds for Citizens is applicable when the deductee has provided its Pan Number to the deductor. otherwise, if deductee not provided PAN, the deductor is TDS deducted 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 list of Payment given Below