TDS for Senior Citizens Fixed Deposit | Complete Guide Citizens { NEW }

 

 

As per the Income Tax Act, 1961, Tds For Senior Citizens Fixed Deposit Interest 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.

 

 

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Also, As per the Income Tax Act, 1961, Tds For Senior Citizens Fixed Deposit Interest will be  deducted list of Payment given Below :

 

 

TDS on Interest other than  Interest on securities / Interest on Loan ( 194A)

Section Nature of Payment  15G-15H TDS Rate for Resident TDS Rate for Non Resident
194A Saving Bank Interest Yes 10% Interest (Banks) above Senor Citizen Above Rs. 50000 PA NA
194A Fixed Deposit Interest Yes 10% Interest (Banks) above Senor Citizen Above Rs. 50000 PA NA
194A Post Office Interest Yes 10% Interest (Banks) above Senor Citizen Above Rs. 50000 PA NA
194A
 
Other Company Interest Yes 10% Interest (Banks) above Senor Citizen Above Rs. 50000 PA NA

 

 

List of Documents

Aadhaar Card Address Proof Aadhar Card Update
Business Loan  Car Loan  Caste Certificate
Driving Licence Education Loan Hdfc Home Loan
Home Loan Income Certificate KYC Documents 
Lic Housing Loan Mortgage Loan Mudra Loan
Name & Address Change Opening Bank Account Pan Card
PCC Documents Personal Loan Sbi Education Loan
Sbi Home Loan  Visa Documents Voter Id

 

 

Quantum of deduction u/s 80 TTB  for senior citizens :

 

As per the Income Tax Act, Quantum of deduction u/s 80 TTB  for S citizens is applicable for Rs. 50000/- per year of the total payment.

 

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Tds For Senior Citizens Fixed Deposit

Tds For S Citizens Fixed Deposit

 

 

Tds For S Citizens Fixed Deposit Related Query :

 

Tds For Senior Fixed Deposit As per the Income Tax Act, 1961, Tds For Senior Fixed Deposit Interest 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 Fixed Deposit Interest will be  deducted list of Payment given Below : TDS on Interest other than  Interest on securities / Interest on Loan ( 194A)