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TDS DEDUCTION UNDER SECTION 194A OF THE INCOME-TAX ACT, 1961 IN CASE
OF SENIOR CITIZENS - REG
F. No. Pr.
DGIT(S)/CPC(TDS)/Notification/2018-19 Notification
No. 06/2018
Directorate
of Income-tax (Systems
Government of
India
Ministry of Finance
Central Board of
Direct Taxes
New Delhi
Notification No. 06
/2018
New Delhi, 06th
December, 2018
Subject: - TDS deduction under section 194A of
the Income-tax Act, 1961 in case of Senior Citizens - reg.-
It has been brought to the notice of CBDT that in case of Senior
Citizens, some TDS deductors/Banks are making TDS deductions even when the
amount of income does not exceed fifty thousand rupees. The same is not in
accordance with the law as the Income-tax Act provides that no tax deduction at
source under section 194A shall be made in the case of Senior Citizens where
the amount of such income or, the aggregate of the amounts of such income credited
or paid during the financial year does not exceed fifty thousand rupees.
(Please refer to the third proviso to sub-section 3 of section 194A)
2. Under sub-rule (5) of Rule 31A of the Income-tax Rules, 1962,
the Director General of Income-tax (Systems) is authorized to specify the
procedures, formats and standards for the purposes of furnishing and
verification of the statements or claim for refund in Form 26B and shall be
responsible for the day-to-day administration in relation to furnishing and verification
of the statements or claim for refund in Form 26B in the manner so specified.
3. In exercise of the powers delegated by the Central Board of
Direct Taxes (Board) under sub-rule (5) of Rule 31A of the Income-tax Rules,
1962, the Principal Director General of Income-tax (Systems) hereby clarifies
that no tax deduction at source under section 194A shall be made in the case of
Senior Citizens where the amount of such income or, the aggregate of the
amounts of such income credited or paid during the financial year does not
exceed fifty thousand rupees.
Sd/-
(Dewangi Marthak)
Asstt. Commissioner of Income-tax(CPC-TDS)
O/o the Pr. Director of Income-tax (Systems)
New Delhi
Copy for kind information to:-
- PPS
to the Chairman and all Members, CBDT, North Block, New Delhi.
- All
Pr. Chief Commissioners/Pr. Director Generals of Income-tax/Chief
Commissioners of Income-tax/Pr. Commissioners of Income-tax/Commissioners
of Income tax/Commissioners of Income-tax {TDS) with a request to
circulate amongst all officers in their regions/charges.
- JS
(TPL)-1 & II I Media Coordinator and Official spokesperson of CBDT.
- ADG(IT)
I ADG(Audit) I ADG{Vig.) I ADG(Systems) 1, 2, 3, 4,5 I ADG(TPS) - 1, 2 I
CIT{CPC ITR) / CIT (CPC-TDS).
- ADG
{PR, PP & OL).
- Chief
General Manager-In-Charge, Department of Government and Bank Accounts,
Reserve Bank of India, Opp. Mumbai Central Railway Station, Mumbai 400 008
with request for wide circulation among Banks and necessary complaince.
- TPL,ITA
and IT(B) divisions of CBDT.
- The
Institution ofChartered Accountants of India, l.P. Estate, New Delhi.
- The
Web-Manager, 'incometaxindia.gov.in' for hosting on the website.
- Database
cell for uploading on www.irsoffi cersonli ne.gov.in and in DGIT(Systems)
corner.
- ITBA
publisher for uploading in ITBA portal.
- ITO
{CPC-TDS)-11 for uploading on TRACES portal.
Sd/-
Asstt. Commissioner of Income-tax (CPC-TDS),
O/o the Pr. Director General of Income-tax (Systems),
New Delhi
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