Tds
This query is : Resolved
Rishu Pathak
(Querist)
12 August 2019
1....Tax slab of Sr citizen=
2....TDS free slab for House wife
3...TDS free slab for Men
4...After what amount,govt deduct tds on interest earned in a year? 40K.or what ??
Pls answer one by one
2....TDS free slab for House wife
3...TDS free slab for Men
4...After what amount,govt deduct tds on interest earned in a year? 40K.or what ??
Pls answer one by one
Gokul Sharma
(Expert)
12 August 2019
Senior citizens don’t have to pay TDS on interest income of up to Rs50,000
Income Tax Slabs Tax Rate for Senior cetizens aged 60 Years But Less than 80 Years
Income up to Rs 3,00,000* No tax
Income from Rs 3,00,000 – Rs 5,00,000 5%
Income from Rs 5,00,000 – 10,00,000 20%
Income more than Rs 10,00,000 30%
Income Tax Slabs Tax Rate for Individual & HUF Below the Age Of 60 Years
Up to ₹2,50,000* Nil
₹2,50,001 to ₹5,00,000 5% of total income exceeding ₹2,50,000
₹5,00,001 to ₹10,00,000 ₹12,500 + 20% of total income exceeding ₹5,00,000
Above ₹10,00,000 ₹1,12,500 + 30% of total income exceeding ₹10,00,000
Income Tax Slabs Tax Rate for Senior cetizens aged 60 Years But Less than 80 Years
Income up to Rs 3,00,000* No tax
Income from Rs 3,00,000 – Rs 5,00,000 5%
Income from Rs 5,00,000 – 10,00,000 20%
Income more than Rs 10,00,000 30%
Income Tax Slabs Tax Rate for Individual & HUF Below the Age Of 60 Years
Up to ₹2,50,000* Nil
₹2,50,001 to ₹5,00,000 5% of total income exceeding ₹2,50,000
₹5,00,001 to ₹10,00,000 ₹12,500 + 20% of total income exceeding ₹5,00,000
Above ₹10,00,000 ₹1,12,500 + 30% of total income exceeding ₹10,00,000
Ashiwini Ballodia
(Expert)
12 August 2019
Kindly refer https://cleartax.in/s/section-194a-tds-on-interest-other-than-interest-on-securities
Gokul Sharma
(Expert)
12 August 2019
TDS threshold for interest earned on bank and post office deposits to Rs 40,000 from the current Rs 10,000.
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