10 May 2014
Mr.A is receiving ex-gratia for the FY 2014-15 of Rs.300000. He is a senior citizen. He is also having 80c ded. for an amt of Rs. 5000. How much I have to deduct tds in this case?
11 May 2014
You have to deduct TDS as per slab applicable to Senior Citizen.
For senior citizen exemption limit is Rs 250000/-. Check out other incomes and investments if any. As per given details TDS will be 10.30% of on Rs 45000/-.
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