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requirment of deduction of tds on pension paid by bank

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 March 2010 In the case of pension payment by bank to non-employee ,Is than any requirment on the side of bank to deduct TDs on that amount.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
26 March 2010 NO.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
26 March 2010 but as per CBDT circular No.1/2010 dt:11.1.2010. Banker needs to deduct tds on pension based on the sec.192
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
26 March 2010 Agree with CMA Ramesh.
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CA Archana

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CA Archana (Expert)
27 March 2010 Yes banker's need to deduct TDS unless the payee produces the certificate of not coming under the taxable limits.
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
27 March 2010 agree with expert
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CMA Arif Farooqui

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CMA Arif Farooqui (Expert)
28 March 2010 agree with expert
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